Agenda - Council - 08/10/2026 - Laserfiche WebLink

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a building permit to construct improvements on a lot within the Plat. Within thirty (30) days after the completion of the Stage I Improvements, the PERMITTEE shall provide the CITY with a complete set of reproducible "As Built" plans for the Stage I Improvements. 7. Time of Performance for the Stage I Improvements. The PERMITTEE must complete the Stage I Improvements within twelve months after the recording of the Plat. 8. Ownership of the Stage 1 lmprovements. The PERMITTEE owns the Stage 1 lmprovements until the CITY'S acceptance of the Stage I lmprovements. Title to the Stage I Improvements automatically passes to the CITY upon the CITY'S written acceptance of the Stage I Improvements. Except to the extent the CITY has accepted all or portions of the Stage I Improvements, in writing, prior to the lapse, expiration, or other termination of the CITY'S financial guaranty described in Section 12 and except to the extent the CITY and the PERMITTEE may agree, in writing, to defer the CITY'S acceptance of certain specified Stage I Improvements, the CITY is deemed to have accepted the Stage I Improvements when the CITY releases the financial guaranty described in Section 12 or allows such financial guaranty to lapse, expire or otherwise terminate. "Acceptance" means written acceptance of the Stage I and Stage II Improvements by the CITY after the CITY determines that: the Improvements have been completed in accordance with the approved plans, specifications, this Agreement, and applicable City standards; all required inspections, testing, and sewer televising have been completed and accepted; all punch -list items have been corrected; and complete as -built plans and all other required closeout documents have been submitted and accepted. 9. Stage I Improvements License. The PERMITTEE hereby grants the CITY and the CITY'S agents, employees, officers, and contractors an irrevocable license to enter the Subject Property to perform all necessary work and/or inspections the CITY deems appropriate during the PERMITTEE'S installation of the Stage I Improvements. The license shall expire after the CITY accepts ownership of Stage I Improvements. 10. Stage II Improvements. The public improvements the PERMITTEE must construct or install are as follows: a. Street striping (if required by Plans). b. Street lights per agreement with Connexus Energy c. Street and traffic control signs. (i) CITY will provide and install Street Name and Traffic Control signs per the Plans, following payment by PERMITTEE pursuant to the established rates and charges in effect and outlined in Exhibit B attached hereto. d. Installation of survey monumentation. (the "Stage II Improvements"). The PERMITTEE must complete the construction of the Stage II Improvements within six months after acceptance of the Stage I Improvements by the CITY. PERMITTEE must install the Stage II Improvements in accordance with the Plans, excluding the street and traffic control signs, which will be installed by the CITY. ll. Required Private Improvements. The private improvements the PERMITTEE will construct or install are as follows: Waterfront Village 3' Addition Development Agreement Page 3 of 13