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performance of said improvements. The warranty must be in the form of a Letter of Credit <br />approved by the CITY Finance Director or a cash escrow. <br />SECTION II <br />DEVELOPMENT FEE INFORMATION <br />11. The Subject Property is being re -platted as a buildable lot of record where development fees are <br />required as follows: <br />a. Park/Trail Dedication - $5,168.00 (Park portion = $4,104 and Trail portion = $1,064) <br />b. Water Trunk (Connection) - $5,975 <br />c. Sanitary Sewer Trunk (Connection) - $3,307 <br />d. Stormwater Management - $4,330 <br />e. In lieu of construction an on -site stormwater basin, the equivalent cost, per the engineer's <br />estimate - $5,475. <br />SECTION III <br />PERMITS AND OCCUPANCY <br />12. Requirements for Building Permit. <br />a. No building permit shall be issued until the PERMITTEE has: (a) installed a Class 5 driving <br />surface to within 300 feet of the structure; (b) provided the CITY Building Official with a <br />Certificate of Survey; (c) provided the Financial Guaranty and Cash Escrow described in <br />Section I Paragraph 8 & 9 to the CITY; and (d) obtained all necessary permits from the Lower <br />Rum River Watershed Management Organization and has provided a copy of such permit to <br />the CITY, if applicable; and <br />b. No occupancy permit shall be issued until the PERMITTEE has: (a) constructed vehicular <br />access to the lot, including the installation of at least one layer of bituminous surfacing; and (b) <br />constructed all utilities and storm water facilities this Agreement requires to serve the lot and <br />such utilities and storm water facilities are in place, operational and accepted by the CITY. <br />SECTION IV <br />ON -SITE AND OFF -SITE LANDSCAPING <br />13. Maintenance Guaranty for Landscaping. It is herein agreed that the PERMITTEE shall <br />provide a Maintenance Guaranty to ensure the survival of the plantings. Said Maintenance <br />Guaranty shall consist of cash or an irrevocable letter of credit, approved as to form by the CITY, <br />in the amount of Two Thousand Eight Hundred Eighty Dollars and No Cents ($2,880.00) <br />[# plantings (16 trees) x cost/planting ($600/tree) x 30% average non -survival rate], which shall be <br />in effect for a two (2) year period commencing on the date of the CITY's written acceptance of <br />said plantings as part of the Required Improvements. <br />Harlow Beckett Enterprises (Scooter's Coffee) <br />Development Agreement <br />Page 4 of 9 <br />