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_190— <br />WHEREAS, the CITY requires certain improvements to be constructed within the Plat • <br />q P , <br />which improvements are defined as Stage I and Stage II Improvements in the City Code, and <br />WHEREAS, the DEVELOPER intends to cause its required improvements in the Plat <br />to be constructed without financial participation by the CITY; and <br />WHEREAS, no expenditure of CITY funds will be made until the relevant City Code <br />escrow requirements have been completed by the DEVELOPER, <br />NOW, THEREFORE, the CITY and DEVELOPER agree as follows: <br />SECTION I <br />STAGE I IMPROVEMENTS AND FINANCIAL GUARANTEES <br />1. City Code Compliance. The CITY approves the Plat conditioned on the DEVELOPER <br />developing the Plat in accordance with the applicable provisions of City Code, Section 9.50, <br />entitled Subdivision. <br />2. Conformance with Plan. The Plat shall be developed pursuant to the Final Plat Plan <br />prepared by Hakanson Anderson. 0 <br />3. Incorporation of All City Code Requirements. That the recitals above and the applicable <br />provisions of the City Charter, Subdivision Code, Zoning Code and Public Improvement <br />Code of the CITY, as amended to date hereof, are incorporated herein by reference. <br />4. Stage I Improvements Required. The improvements the CITY requires the <br />DEVELOPER to construct within the Plat are as follows: <br />a. Natural gas <br />b. Telephone service <br />C. Electric service <br />("Stage I Improvements") <br />The DEVELOPER agrees to construct the Stage I Improvements according to the terms <br />and conditions of this agreement and in accordance with DEVELOPERS' plans <br />submitted to the CITY. Said plans shall be in conformance with 92 of this section and <br />subject to the City Staff Review Letter dated November 18, 2005. <br />Minks Business Park <br />Development Agreement <br />Page 2 of 7 <br />U <br />