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

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to the CITY to enter on each lot of the Plat in order to install the improvement described in this paragraph, in the event it is necessary for the CITY to install this improvement and specially assess the same. 14. Development Assessment. The CITY has enacted a Development Assessment in the amount of Five Hundred Dollars ($500.00) per dwelling unit. The amount of the assessment due on the Plat is Forty Thousand Five Hundred Dollars and no cents ($40,500.00). The DEVELOPER has the option to either: (a) pay the entire amount due prior to the CITY releasing the Pl.. t for recording at the County; or (b) pay fifty percent of the assessment, Twenty Thousand Two Hundred Fifty Dollars and no cents ($20,250.00), prior to the CITY releasing the Plat for recording and divert the remaining Twenty Thousand Two Hundred Fifty Dollars and no cents ($20,250.00) due as an additional Two Hundred Fifty Dollar ($250.00) per unit fee on each building permit issued in the Plat. The amount of the DEVELOPER'S share of the assessment shall be utilized for future signalization at the intersection of County Road #57 and County Road # 116. Ill. PERMITS AND OCCUPANCY 15. Requirements for Occupancy Permits. No occupancy permit for any lot in the Plat shall be issued until: (a) vehicular access to the lot is provided including the installation of Class V material on all streets in the Plat; (b) site plan approval is granted by the CITY and any additional expense incurred in giving site plan approval has been reimbursed to the CITY; (c) a Certificate of Survey, including that information required by the CITY, has been supplied to the City Building Official; (d) a tree planting has been accomplished in accordance with #16 of this Agreement; and (e) all the fmancial guarantees required by the CITY have been satisfied. IV. PARK DEDICATION 16. Cash. The Plat is located in the Sunfish Lake Park District. Park dedication requirements shall be satisfied by a cash payment in the amount of Seventy Thousand Eight Hundred Seventy Five Dollars and no cents ($70,875.00) (81 units x $875.00 per unit. v. GENERAL 17. Construction Site Maintenance. The DEVELOPER shall adhere to all City ordinances relating to, but not limited to, dumping of garbage, site development, construction debris, open burning, etc. 18. Estimated Cost. It is understood and agreed that cost amounts set forth in this Agreement as stage I and Stage II Improvements, unless specified as fixed amounts, are estimated. 5 15