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Saddle Club 3rd Addition <br />Development Agreement <br />July 24, 2017 <br /> page 6 <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 B for <br />breakdown of costs): <br />a. Park Dedication <br /> The Park Dedication Fee for this site is calculated as follows: <br /> 8 units x $2,575 = $20,600 <br />A credit in the amount of $5,112 shall be applied for developer costs incurred to <br />extend additional boardwalk along Lot 5, Block 4 of Saddle Club 2nd Addition. <br />The amount to be collected is: <br /> $20,600-$5,112=$15,488 <br />b. The Developer shall pay 15 months of maintenance and energy costs for street <br />lights installed within the Subject Property at the rate of $7/month/light. After <br />that the City will assume the costs. <br />c. Sealcoating. The Developer will pay the cost of sealcoating the streets within the <br />development at a cost of $7,920. The sealcoating will be completed within three <br />to seven years following completion of the wear course placement. <br />d. Aerial Photo Fees. <br />a. Trunk Sewer Unit Charges