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$ ~: :;:':~;-, which is 125% of the cost of replacing the community septic system and <br />watermains. The DEVELOPER may request a reduction in the amount of the financial <br />guarantee AS this guarantee is replaced by monies from an established Homeowners' <br />Association (HOA) or management entity responsible for the maintenance of the <br />community system. The HOA must institute a separate escrow account with the CITY <br />and make regular payments for the financial guarantee described herein to be reduced. <br />These provisions are outiined in the Utility Operating Agreement between National <br />Growth, LLC, Kelly Wolf and John Osborne, the Association, and the <br />selected management entity. <br /> <br />11. Sewer and Water Trunk Charges. Sewer and <br /> the time of connection to urban services. The HOA <br /> at the time of connection. A <br /> <br />will be assessed at' <br />for these charges <br /> <br />12. Stormwater Management Fee. The <br /> is $10,322.00 (26 lots x $397 per lot) <br /> recording at Anoka County. <br /> <br /> on this Plat <br />to release '~'~the Plat for <br /> <br />STAGE II IMPROVEMENI~.S <br /> <br />8. Stage II Improvemenl uired. <br /> the <br /> <br />WS: <br /> <br />which the CITY requires <br /> <br />a) Street <br />b) Traffic s~ <br />c) <br /> <br />li gh: <br /> <br />h) <br /> <br />Payment for II Improvements. The CITY will install in the Plat the Stage 1I <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 Connexus for the first 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 sanitaO, 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 /> <br />-284- <br /> <br />Prairie Meadows <br />Development Agreement <br />Page 4 of]2 <br /> <br /> <br />