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satisfaction of the -te +ms of Paragraph # -17-ef this De-velopment-Contraet. No interest is payable <br />on the dollars held as surety. <br />14. The Developer agrees that the terms of the financial security shall be deemed to <br />have been violated if the Developer fails to perform any of the terms of this Contract in the <br />manner required by the City. City shall provide Developer ten (10) days written notice of any <br />violation of the terms of the Contract. Determination of a violation of the terms of the Contract <br />shall be in the sole discretion of the City, which shall not be unreasonable. The financial security <br />shall be available for use by the City to remedy any violation of the terms of this agreement, <br />subject to the ten (10) days written notice to Developer and Developer's failure to rectify same <br />within that period of time. Use of the financial security to remedy other violations of this <br />agreement, other than the average selling price provision outlined in Provision #13, shall not <br />reduce the $10,000 penalty as outlined in Provision #13. <br />15. WAC and SAC charges shall be paid with each building permit. <br />16. Park dedication fees shall be paid at the time of the building permit application for <br />each lot within the development based on the fee in effect at the time of the building permit <br />application. In addition, all plumbing permit fees, electrical permit fees and any other permit fees <br />required for new construction shall be paid at that time as well. <br />17. The Developer hereby agrees on behalf of itself, its heirs, successors and assigns, <br />that all 15 homes within Pinetree Ponds shall have an average selling price of $475,000 4000 <br />as evidence by the Certificates of Real Estate Value filed with each sales transaction. <br />18. The Developer hereby agrees to the following schedule of home construction: a) <br />before December 31, 2013, the Developer shall have started construction on three (3) homes; b) <br />before December 31, 2014, the Developer shall have started construction on a total of ten (10) <br />_6_ <br />