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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 ~fmprovement <br />Code of tire CITY, as amended to date hereof, are incorporated herein by rcference. <br /> <br />Stage i improvements Required. The improvements the CiTY requires tile <br />DEVELOPER to construct w/thin the Plat are as follows: <br /> <br />Tnmk and lateral sanitary sexver system <br />Trunk and lateral watermains and appurtenances <br />Streets with concrete curb and gutter <br />Trnnk and lateral storm drainage facilities <br />Lot grading and permanent erosion control <br />Sidewalk Construction along 157a Ave. <br />Trail construction as shown on the plans and as required by City Staff Review <br />ietter dated May 19, 2006. <br />Natural gas <br />Telephone service <br />Electric service <br />Street lights (installment m2'anged by CITY during Stage I Improvements and <br />paid ~br by DEVELOPER as Stage II knprovement) <br /> <br />("Stage I hnprovements") <br /> <br />The DEVELOPER agrees to construct the Stage I Improvements according to the troths and <br />conditions of this agreement and in accordance with DEVELOPER'S plans submitted to the <br />CITY: Street and Utility plans received May 12, 2006 and prepared by TEC Design Utility <br />Plans and as amended as required by the City Staff R.eview Letter dated May I9, 2006. <br />The final construction plan ~br tire Stage [ l~mprovements shaI1 be submitted to the City <br />Engineer for review and approval prior to commencement of consttn_mtion. <br /> <br />The DEVELOPER shall be responsible for completing the rough grading and providing lot <br />corner stakes prior to the installation of undergrotmd uti}ities. All permanent lot comers shall <br />be in place prior to the release of the Stage I financial guarantee. <br /> <br />Stage I Improvenrents Completion Date. The Stage I Improvements shall be completed on <br />or before June 1,2007. <br /> <br />Stage I hnprovemcnt Financial Guarantee. The DEVELOPER shall provide a financial <br />guarantee to the CITY guaranteeing the construction of the Stage I Improvements and their <br />timely completion. The financial guarantee shall be in the amount of <br /> (S ) (I25% x $ ), which atrmunt is <br />125% of the City Engineer's estimated cost of the Stage [ Improvements. The financia[ <br />guarantee required by this paragraph shall be in the form of cash or a letter of credit, <br />approved as to form by the CITY. The financial guarantee shall be deposited with the CITY <br /> <br /> Rum River ~¥[eadows <br /> Development Agreement <br /> Page3 of 12 <br /> Draft $.Ig, O6 <br /> <br /> <br />