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The Seller agrees to waive the right to re-enter and take physical possession of the <br />Property upon satisfactory completion and inspection by the Seller of the Stage I <br />Improvements as follows: <br />Trunk and lateral sanitary sewer. <br />Trunk and lateral water main. <br />Storm drainage facilities (when specified). <br />Stormwater maintenance through 90 percent buildout. <br />Streets (excluding the final bituminous lift) <br />Concrete curb and gutter (urban). <br />Street traffic control signals. <br />Lot grading. <br />Trail development. <br />Sidewalks. <br />Electricity (within one-fourth mile). <br />Phone (within one-fourth mile). <br />Natural gas (within one-fourth mile). <br />Boulevard sodding. <br />Water shut off boxes. <br />Landscaping <br />(the "Stage I Improvements"). <br />5. Upon satisfaction of the terms set forth in Section 4 above, the right of re-entry <br />only set forth in Section 4 herein shall be released in a recordable writing executed <br />by the Seller's Mayor and City Administrator. <br />6. This document constitutes the entire Right of Re-entry Agreement between the <br />parties. Any modifications or amendments to this Agreement must be in writing <br />and signed by both parties. <br />Resolution #24-147 <br />Page 6 of 8 <br />