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12. <br /> <br />Future Construction Of 152"d Avenue N.W. A future connection is being platted for <br />152"d Avenue N.W. from Helium Street N.W. to thc east boundary of the Plat. This <br />cormcction shall not be required for construction at this time. The DEVELOPER shall <br />construct a temporary curb across the proposed street opening, a "Future Street <br />Connection" sign must be installed, and the construction costs to construct 152aa Avenue <br />from Helium Street to the east boundary of the plat should be escrowed. The <br />DEVELOPER shall deposit a cash escrow at the City in the amount of Ten Thousand <br />Five Hundred Dollars and no cents ($10,500.00). This escrow shall be utilized by the <br />City for the future construction of 152na Avenue N.W. from Helium Street N.W. to the <br />east boundary of the Plat. <br /> <br />13. <br /> <br />14. <br /> <br /> SECTION II <br />STAGE II IMPROVEMENTS AND FINANCIAL GUARANTEES <br /> <br />Stage II Improvements Required. The Stage II Improvements which the CITY <br />requires the DEVELOPER to construct within the Plat are as follows: <br /> <br />a) Street striping and signing <br />b) Street signing <br />c) Traffic Signing <br />d) Street lights <br />e) Street light maintenance <br />f) Street sweeping <br />g) Seal coating <br /> <br />("Stage II Improvements") <br /> <br />Payment for Stage II Improvements. The CITY will install in the Plat the Stage II <br />Improvements. The DEVELOPER shall also deposit an amount that is determined by <br />the CITY to be adequate to aid in the operation and maintenance of street lights in <br />locations within the Plat determined by the City Engineer and installed by Connexus for <br />the first three (3) years after final plat approval. The CITY will bill residents in the Plat <br />at least quarterly for street light maintenance and operation costs; billing will be initiated <br />at the time a residence connects to municipal water and sanitary sewer. The <br />DEVELOPER will pay to the CITY an amount equal to 100% of the City Engineer's <br />estimated construction cost of the items prior to recording of the final Plat. The City <br />Engineer's estimated cost of construction is: <br /> <br />a) Street striping (4,030 feet ~ $.20) <br />b) Street Signing (5 ~ $200.00) <br />c) Traffic signing (3 ~ $200.00) <br />d) Street lights (12 ~$1,500.00) <br />e) Street light maintenance (12 ~$270.00) <br />f) Street sweeping <br />g) Sealcoating (14,330 sq. yds ~$.85/sq. yd.) <br /> Meadow Subdivision <br /> Development Agreement <br /> Page 6 of 13 <br /> <br />$806.00 <br />$1,000.00 <br />$6OO.OO <br />$18,000.00 <br />$3,24O.OO <br />$500.00 <br />$12,180.00 <br /> <br />-309- <br /> <br /> <br />