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NorthPointe 4th Addition <br />Development Agreement <br />July 11, 2016 <br />the payment of all costs incurred by the City related to the development of the <br />Subdivision including, but not limited to, the following (See Attachment C for <br />breakdown of costs): <br />i. Administration - 3% of Developer [CITY] Improvement Costs <br />ii. City Engineering <br />iii. Street lighting installation (by utility company) <br />iv. Traffic signing improvements <br />v. Boulevard tree planting <br />vi. Street, storm sewer and pond maintenance <br />vii. Property Taxes. Should the recording of the Final Plat occur after July 1st, <br />any and all property taxes on any public property dedicated as a part of <br />this plat shall be the responsibility of the Developer. <br />b. If the above escrow amounts are insufficient, the Developer shall make such <br />additional deposits as required by the City. The City shall have a right to <br />reimburse itself from the Escrow upon notice to the Developer, with suitable <br />documentation supporting the charges. <br />16. Developer Fees. At the time of execution of this Agreement, the Developer shall pay <br />the following fees related to the development of the Subdivision (See Attachment C for <br />breakdown of costs): <br />Park Dedication <br />The City will, require a combination of land dedication and cash in lieu of land for the <br />entire NorthPointe development. Outlot D, NorthPointe 4th Addition will be dedicated <br />to the City for parkland. The outlot 4.59 net acres. The City and developer agreed to <br />$25,000 per acre for land dedication credit. The negative cash balance will be carried <br />over and balanced with future phases of development. <br />Total #of Lots = <br />31 <br />x Park Dedication fee <br />$2,500 <br />= Cash in Lieu Value <br />$77,500 <br />page 6 <br />