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Stage I Improvement item per City Code Section 117-615,the CITY will not release in its <br /> entirety the required Stage I Improvement Financial Guaranty noted in Section 12 below <br /> until such as-built plans are received by the CITY. Additionally,the PERMITTEE agrees <br /> to provide to the CITY the plans in CAD format prior to the commencement of <br /> construction of the Stage I Improvements. <br /> 5. Lot Corner Staking. The PERMITTEE must install lot corner stakes at all lot corners. <br /> 6. Installation of the Stage I Improvements. The PERMITTEE shall obtain all necessary <br /> permits from all governmental agencies before commencing construction of the Stage I <br /> Improvements. The PERMITTEE must provide the CITY with copies of all necessary <br /> permits from other governmental agencies prior to or when the PERMITTEE applies for <br /> a building permit to construct improvements on a lot within the Plat. Within thirty (30) <br /> days after the completion of the Stage I Improvements, the PERMITTEE shall provide <br /> the CITY with a complete set of reproducible "As Built" plans for the Stage I <br /> Improvements. <br /> 7. Time of Performance for the Stage I Improvements. The PERMITTEE must complete <br /> the Stage I Improvements within one(1) year after the recording of the Plat. <br /> 8. Ownership of the Stage I Improvements. The PERMITTEE owns the Stage I <br /> Improvements until the CITY'S acceptance of the Stage I Improvements. Title to the Stage <br /> I Improvements automatically passes to the CITY upon the CITY'S written acceptance of <br /> the Stage I Improvements. Except to the extent the CITY has accepted all or portions of <br /> the Stage I Improvements, in writing, prior to the lapse, expiration, or other termination of <br /> the CITY'S financial guaranty described in Section 11 and except to the extent the CITY <br /> and the PERMITTEE may agree, in writing, to defer the CITY'S acceptance of certain <br /> specified Stage I Improvements, the CITY is deemed to have accepted the Stage I <br /> Improvements when the CITY releases the financial guaranty described in Section 11 or <br /> allows such financial guaranty to lapse, expire or otherwise terminate. <br /> 9. Stage I Improvements License. The PERMITTEE hereby grants the CITY and the <br /> CITY'S agents, employees, officers, and contractors an irrevocable license to enter the <br /> Subject Property to perform all necessary work and/or inspections the CITY deems <br /> appropriate during the PERMITTEE'S installation of the Stage I Improvements. The <br /> license shall expire after the CITY accepts ownership of Stage I Improvements. <br /> 10. Stage II Improvements. The public improvements the PERMITTEE must construct or <br /> install are as follows: <br /> a. Street striping(if required by Plans). <br /> b. Street lights per agreement with Connexus Energy <br /> C. Street and traffic control signs. <br /> (i) CITY will provide and install Street Name and Traffic Control signs per the <br /> Plans, following payment by PERMITTEE pursuant to the established rates <br /> and charges in effect and outlined in Exhibit B attached hereto. <br /> d. Installation of survey monumentation. <br /> (the"Stage II Improvements"). The PERMITTEE must complete the construction of the <br /> Stage II Improvements within one(1)year after the date upon which the Plat is recorded. <br /> 3 <br />