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those purposes described above, shall assure the CITY that the improvements required <br />herein will be actually constructed and installed according to specifications approved by the <br />CITY, and that the special assessments are paid as required herein. Because of the need to <br />guarantee the payment of the special assessments, the escrow shall be retained for the five <br />(10) year payment term of the assessments, or earlier date and lesser amount at such time <br />that outstanding special assessments and all other developer obligations are less than the <br />original cash requirement. <br />8. Estimated Costs, It is understood and agreed that construction cost arnounts set forth in <br />this Agreement as Stage I and Stage II Improvements, unless specified as fixed amounts, <br />are estimated. The DEVELOPER agrees to pay the entire cost of said improvements <br />including interest, fiscal engineering and legal charges. <br />9. Satisfaction of Sewer and Water Trunk Charges, An accounting of the charges <br />due from Deal Industrial Park results in a sewer and water trunk charge of Fifty One <br />Thousand One Hundred Fifty Two Dollars ($51,152.00), which shall be assessed equally <br />over the three (3) commercial lots. <br />10.Date For Supplying Financial Guaranies. The DEVELOPER agrees to supply <br />the financial guarantee as described above to the CITY prior to the CITY ordering <br />preparation of the plans and specifications for construction of the Stage I Improvements. <br />IL <br />STAGE II IMPROVEMENTS AND COSTS: <br />11 Street/Traffic Signs. Street Lights. Street Cleaning. Seal Coating and <br />Topographies. The CITY will install or provide for in the Plat, as Stage II <br />Improvements, street/traffic signs, sealcoating and topographies. The DEVELOPER will <br />pay to the CITY as amount equal to 100% of the City Engineer's estimated construction <br />cost of the items prior to recording of the final Plat. The DEVELOPER shall also deposit <br />an amount that is determined by the CITY to be adequate to aid in the operation and <br />maintenance of street lights in locations determined by the City Engineer and installed by <br />Anoka Electric Cooperative for the first three (3) years. The CITY will bill residents in the <br />Plat at least quarterly for street light maintenance and operation costs; billings will be <br />initiated at the time of connection to municipal water and sanitary sewer. The cost of these <br />items is: <br />