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can be increased or reduced at the sole discretion of City should staff time required vary dramatically from this <br />estimate. Billing will be on a flat percentage basis as deemed appropriate by City. Simultaneous with the execution <br />of this Development Agreement, Developers agree to deposit the sum of Three Thousand and No /100 Dollars <br />($3,000.00) with City as a deposit towards costs to be incurred. The funds deposited with City shall be applied <br />towards the payment of costs incurred by City as set forth above. In the event that the balance of funds on deposit <br />with City totals less than One Thousand and No /100 Dollars ($1,000.00), Developers shall deposit additional funds <br />as necessary to increase the balance to Three Thousand and No /100 Dollars ($3,000.00) within ten (10) days of <br />notice by City. In the event that the funds deposited are insufficient to satisfy the costs incurred by City, any <br />additional costs shall be paid within ten (10) days of billing by City. All costs shall be paid within ten (10) days of <br />billing by City. If the project is not completed to the satisfaction of the City Engineer, the funds deposited pursuant <br />to this paragraph may be used by City to satisfy costs of restoration or repair, or to satisfy any other costs incurred <br />by City due to Developers' failure to complete the project. <br />12. Park Dedication Requirements. It is understood that park dedication fees pursuant to current City <br />ordinance will be payable at the time of the building permit application. No building permit will be issued until this <br />fee is paid. <br />13. Additional Requirements. <br />a. Developer shall comply with the Little Canada landscaping ordinance. <br />b. Through this Development Agreement, Developers acknowledge responsibility for <br />performance pursuant to the Agreements between Owner /Applicant and the City of Little Canada as to Costs, dated <br />May 22, 2003 executed by Edward L. Inman and Rebecca L. Inman, attached and incorporated herein as Exhibit <br />"B ". All unexpended monies deposited pursuant to Exhibit `B" shall be applied to the deposit requirement under <br />Paragraph #11 above. <br />c. The placement of durable iron monuments for marking of platted lots, blocks and boundaries <br />I Nocln \Correspondcnce\Joel 2003 \Inman Development Contract.doc <br />-4- <br />