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deducted from Developer's contributed capital as set forth in Exhibit B attached hereto. <br />Developer shall convey Outlot C the City. Developer shall convey Outlot D to Gail Acosta and <br />shall pay all costs incurred in recording said conveyance. <br />36. The Developer shall construct a monument sign at the entry area and shall <br />construct and maintain entry area landscaping as well as landscaping of the pond /circle area. In <br />addition, the Developer shall install an irrigation system to maintain the entry area landscaping <br />as well as the landscaping of the pond /circle area. <br />37. The Developer shall prepare a declaration creating a non - profit association for the <br />purpose of maintaining all entry monuments and associated landscaping as well as pond /circle <br />landscaping and irrigation facilities installed to maintain said landscaping. All lots in the <br />development shall be bound by the Declaration and the owners of said lots shall be members of <br />the Association. The Declaration shall provide for annual assessments to maintain the <br />landscaping described above and a special assessment to repair or replace any landscaping or <br />equipment which the City, at the City's sole discretion, requires to be replaced. The Declaration <br />shall be reviewed and approved by the City. <br />38. Each deed conveying title to a lot located in the development shall contain the <br />following covenant: "Grantee hereby acknowledges that Outlot C, Pinetree Ponds has been <br />dedicated to the City of Little Canada for the purpose of aiding in the development of the rear <br />portions of 2971, 2981, and 3001 Labore Road including the construction of future roads, <br />grading, drainage, water mains, sanitary sewer and other utility services. That by accepting this <br />deed, the Grantee hereby waives any right to object to future improvement of those properties <br />and the use of Outlot C to facilitate same." <br />39. Developer shall upon execution of the final plat and Development Agreement <br />have the right to apply for and receive all necessary building permits required to commence <br />_ 12- <br />