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16. PARK DEDICATION FEE. The development of Terrace Hill Apartments is located in the <br />Sunfish Lake Park District. No park dedication fee was paid for this lot within the PONDS <br />OF RAMSEY subdivision. Therefore, the Permittee shall pay a park dedication fee of One <br />Hundred, Fifty -Five Thousand, Nine - Hundred, Twenty -Five Dollars and no cents <br />($155,925.00) [$2,475.00 x 63 residential units]. <br />17. SEWER AND WATER TRUNK FEE. The Permittee shall pay a sewer and water trunk fee <br />of , which is $3,144.00 per the Metropolitan Council's SAC and WAC <br />residential equivalency unit (REU). This amount shall not exceed One - hundred Ninety -eight <br />Thousand, Seventy -two dollars and no cents ($198,072.00) [$3,144 x 63], which is one REU <br />unit per residential unit. <br />18. STORMWATER MANAGEMENT FEE. The Permittee shall pay a stormwater <br />management fee of Twenty -Six Thousand, Two - Hundred, Eight Dollars and no cents <br />($26,208.00) [$416 per residential unit X 63 units]. <br />19. TRAIL DEVELOPMENT FEE. The CITY has a trail development fee assessed to each <br />subdivision or site plan. The total Trail Development fee due on this plat is Thirty -Seven <br />Thousand, Eight Hundred Dollars and no cents ($37,800) [$600 x 63 units]. <br />20. AGREEMENT BINDING ON HEIRS, ETC. The DEVELOPER agrees that this <br />Development Agreement shall be binding upon their successors and assigns. Breach of any <br />of the terms of this Development Agreement by the DEVELOPER shall be grounds for <br />denial of building permits for buildings in the Plat. <br />Trident Development, LLC hereby acknowledges receipt of this Permit and that they have <br />reviewed the conditions of this permit and have agreed that they will comply with the terms of <br />this Permit. <br />Trident Development, LLC <br />By: <br />Its: <br />STATE OF MINNESOTA ) <br />) ss <br />COUNTY OF <br />On this day of 2007 before me, a Notary Public, personally appeared <br />, the of Trident Development, LLC Inc., a limited <br />liability corporation under the laws of the State of Minnesota, on behalf of the corporation. <br />—322— <br />Terrace Hill Apartments <br />Development Permit <br />Page 4 of 5 <br />