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SECTION II <br />STAGE li IMPROVEMENTS AND FINANCIAL GUAI~NTEES <br /> <br />11. Stage II Improvements Reqnired. The Stage II Improvements which the CITY requires <br /> the DEVELOPER to construct within the Plat are as follows: <br /> <br />a) Street striping and signing <br />b) Roundabout signing and striping <br />c) Traffic signing <br />d) Future through street signing <br />e) Street lights <br />f) Street light maintenance <br />g) Street sweeping <br />h) Sea! coating <br /> <br />("Stage ~I Improvements") <br /> <br />12. 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 the <br /> CITY to be adequate to aid in the operation and maintenance of street lights in locations <br /> within the Plat determined by the City Engineer and installed by Cormexus ~br the t~rst three <br /> (3) years after final plat approval. The CITY will bill residents in the Plat at least quarterly <br /> for street light maintenance and operation costs; billing will be initiated at the time a <br /> residence connects to municipal water and sanitary sewer. The DEVELOPER will pay to <br /> the CITY an amount equal to 100% of the City Engineer's estimated construction cost of the <br /> items prior to recording of the final Plat. The City Engineer's estimated cost of construction <br /> is: <br /> <br />a) Street striping and signing (_ ~$200) <br />b) Traffic slgning.( _ ~$200) <br />c) Futnre Through Street signing (_ ~$200) <br />d) Street lights (,__ ~$1500) <br />e) Streetlight maintenance (__U~$270) <br />f) Street sweeping <br />g) Seal coatiag ( sq. zd_s.~cUh?_~85/sq, vd.) <br /> <br />("Stage II Improvements") <br /> <br />Total $59,577.50 <br /> <br />-140- <br /> <br />13. Hard Surfaced Driveways. Hard surfaced driveways (bituminous or concrete) are a <br /> requirement for each lot in the Plat. Said improvement shall be installed by the building <br /> permit applicant or the homeoxmmr at the time the CmnSficate of Occupancy is issued or as <br /> soon thereaf~_er as possible, weather pennltting. In the event this improvement is not timely <br /> installed on a lot, the DEVELOPER and/or the DEVELOPER'S assign(s), agrees that the <br /> ]~ItDl River ikreadows <br /> <br /> Developm. ent Agreement <br /> Page. 5' of 12 <br /> Draft 5.19. 06 <br /> <br /> <br />