Agenda - Parks and Recreation Commission - 06/12/1997

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upon at the CITY'S discretion during said one (1) year period if the CITY determines it necessary to repair and/or replace any of the Stage I Improvements. Said financial guarantee shall be in the form of a letter of credit, approved as to form by the CITY. 10. Payment of Trunk Usage Charge. The CITY'S Trunk Usage Charge in the amount of $1,621.00 per dwelling unit shall be paid to the CITY upon execution of this Agreement. The amount payable is One Hundred Thirty One Thousand Three Hundred One Dollars and no cents ($131,301.00) (81 units x $1,62).00). II. STAGE II IMPROVEMENTS AND FINANCIAL GUARANTEES 11. Street Cleaning. From time to time, the CITY may remove accumulations of soil, earth and debris from the public streets resulting from the construction of the Plat. It shall be the DEVELOPER'S responsibility to pay the costs associated with this necessary street cleaning. Invoices from the CITY to the DEVELOPER for such costs shall be paid within fifteen (15) days of the date of the invoice. 12. StreetfI'raffic Signs, Street Lights, Street Cleaning and Seal Coating. The CITY will install in the Plat, as Stage II Improvements, street/traffic signs and seal coating. The DEVELOPER will pay to the CITY an amount equal to 100% of the City Engineer's estimated construction cost of the items prior to recording of the final Plat. The DEVELOPER shall also deposit an amount that is determined by the CITY to be adequate to aid in the operation and maintenance of street lights in locations determined by the City Engineer and installed by Anoka Electric Cooperative for the first three (3) years. The CITY will bill residents in the Plat at least quarterly for street light maintenance and operation costs; billings will be initiated at the time of connection to municipal water and sanitary sewer. The cost of these items is: Street Cleaning Sealcoating Subdivision Street Light(s) (3) Street Light Maintenance & Operation (3 Y ears) $300.00 $1150.00 . $1,500.00. $810.00 TOTAL: $3,760.00 13. Hard Surfaced Driveways. Hard surfaced driveways are a requirement for each unit in the Plat. Said improvement shall be installed by the building permit applicant or the homeowner at the time the Certificate of Occupancy is issued or as soon thereafter as possible, weather permitting. In the event this improvement is not timely installed, the DEVELOPER, on behalf of all subsequent owners of lots within the Plat, agrees that CITY may install said improvement on any lot and specially assess its cost therefore against the unit. The DEVELOPER hereby waives all right to a public hearing and other statutory rights and City Charter rights granted a property owner relating to special assessments, including the right to appeal the special assessment for installation of the improvement described in this paragraph. In addition, the DEVELOPER grants the right '-14 4