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f. Lot grading <br />g. Landscaping <br />12. Financial Guaranty for Stage I Improvements, Stage II Improvements, and Required <br />Private Improvements. The PERMITTEE shall provide a financial guaranty to the CITY <br />guaranteeing the construction of the Stage I Improvements, Stage II Improvements, and <br />Required Private Improvements, as well as their timely completion. The PERMITTEE <br />shall be responsible for a financial guarantee in the amount of ($434,202.00), which <br />amount is 125% of the CITY Engineer's estimated cost of the Stage I and Stage II <br />Improvements. Upon completion of Stage I Improvements (including the removal of <br />"temporary" erosion control measures as identified in the approved Grading Plan), <br />acceptance by the CITY, supported by appropriate lien waivers, The PERMITTEE may <br />request a reduction in the amount of the financial guaranty. <br />13. Inspection Escrow for the Stage I Improvements, Stage II Improvements, and Required <br />Private Improvements. The PERMITTEE shall provide an inspection escrow to the CITY <br />to inspect the Stage I Improvements, Stage II Improvements, and Required Private <br />Improvements. The PERMITTEE shall be responsible for an inspection escrow in the <br />amount of ($17,368.00), which amount is 5% of the City Engineer's estimated cost of the <br />Stage I Improvements, Stage II Improvements, and Required Private Improvements. The <br />inspection escrow must be in the form of cash. The PERMITTEE may request a refund <br />of the remaining balance in the escrow upon completion of the Stage I Improvements, Stage <br />II Improvements, and Required Private Improvements, after acceptance by the CITY. <br />14. Warranty for Stage I and Stage II Improvements. The PERMITTEE shall provide a one- <br />year warranty in the amount of $86,840.00, which is 25% of the cost of the Stage I and <br />Stage II Improvements. Said warranty shall be in force for one year following the final <br />acceptance of any required improvements and shall guarantee satisfactory performance of <br />said improvements. The warranty must be in the form of a Letter of Credit, approved as to <br />form by the CITY, or a cash escrow. <br />15. Street Cleaning and Clean Up. After the street surfacing that is a part of the Stage I <br />Improvements is installed, the PERMITTEE shall clear any soil, earth, or debris from the <br />streets. From time to time, the CITY may remove accumulations of soil, earth, and debris <br />from the streets resulting from the construction of the Stage I Improvements. It shall be <br />the PERMITTEE'S responsibility to pay the costs associated with this necessary street <br />cleaning. Invoices from the CITY to the PERMITTEE for such costs shall be paid within <br />fifteen (15) days of the date of the invoice. <br />16. Payment of Development Fees. The PERMITTEE must pay to the CITY the fees <br />described on Exhibit B which may include, but are not limited to Trail Development Fees, <br />Sanitary Sewer Connection (Trunk) Fees, Water Connection (Trunk) Fees, Sanitary Sewer <br />Lateral Fees, Water Lateral Fees, Storm Management Fees, Street Signage Fees, and Street <br />Light Operation and Maintenance Fees. <br />17. Requirements for Building and Occupancy Permits. <br />a. No building permit for any lot in the Plat shall be issued until the PERMITTEE <br />has: (a) installed a Class 5 driving surface to within 300 feet of the structure; (b) <br />4 <br />