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5. Fire Lanes. Fire lanes shall be maintained on the Subject Property. The exact locations of these <br />items on the Subject Property shall be as directed by the Fire Chief. The PERMITTEE herein <br />agrees to post "No Parking" signs along driveways in accordance with City Code requirements and <br />in conjunction with the instructions of the Fire Chief. <br />6. Required On -Site Improvements. The PERMITTEE shall construct and install the following <br />site improvements on the Subject Property in accordance with the specifications and location as <br />shown on the Plans. The Required Improvements and the allocated costs therefor are as follows: <br />Required Site Improvement Cost 75% of Cost <br />Release Amount <br />a. Site work (including lot grading $42,400.00 $31,800.00 <br />and access road) <br />b. Landscaping (including seeding $70,000.00 $52,500.00 <br />and tree transplanting) <br />c. Site preparation (construction $15,160.00 $11,370.00 <br />entrance and silt fencing) <br />TOTAL $127,560.00 $95,670.00 <br />("Required Improvements") <br />The PERMITTEE agrees to construct the Required Improvements according to the terms and <br />conditions of this Agreement, in accordance with the Plans, and in compliance with Staff review <br />comments. <br />7. Required Off -Site Improvements. None. <br />8. Required Improvements Completion Date. The Required Improvements shall be <br />completed within twenty-four (24) months from the date of Site Plan approval for the Site, subject <br />to Unavoidable Delays. For the purposes of this Agreement, Unavoidable Delays means delays, <br />outside the control of the party claiming its occurrence, which are the result of strikes, other labor <br />troubles, unusually severe or prolonged bad weather, acts of God, fire or other casualty to the <br />Project, litigation commenced by third parties which, by injunction or other similar judicial action <br />or by the exercise of reasonable discretion, results in delays, or acts of any federal, state or local <br />governmental unit other than the CITY. <br />9. Required Improvements Financial Guaranty. In order to ensure the installation of the Required <br />Improvements in accordance with CITY specifications and in a timely manner, the PERMITTEE <br />shall be required to deposit with the CITY a cash escrow or an irrevocable letter of credit, approved <br />as to form by the CITY, in the amount of Ninety -Five Thousand Six Hundred Seventy Dollars <br />and No Cents ($95,670.00), which is 75% of the CITY's estimated cost of the Required <br />Improvements for the on -site and off -site improvements. Prior to the issuance of the building <br />permit, the financial guaranty must be provided as required herein. <br />At the request of PER1VIITTEE, the CITY shall, not more frequently that once monthly, release <br />that part of the Financial Guaranty for any completed portion of the Required Improvements in the <br />amount set forth in Section 6 that have been approved in writing by the CITY. Upon completion <br />of the construction of all or any remaining of the Required Improvements and written approval <br />by the CITY, the financial guaranty shall be returned to the PERMITTEE and the PERMITTEE <br />shall be required to provide the landscaping maintenance guaranty described in Section III <br />Cedar Creek Energy <br />Development Agreement <br />Page 3 of 8 <br />