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Main Street Shoppes 2nd Addition <br />Development Agreement <br />February 11, 2019 <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 Exhibit C for <br />breakdown of costs): <br />i. Planning/ Review <br />ii. Administration - 3% of Developer Improvement Costs <br />iii. City Engineering <br />iv. Street lighting installation (by utility company) <br />v. Traffic signing improvements <br />vi. Boulevard tree planting <br />vii. Street, storm sewer and pond maintenance <br />viii. Property Taxes. Should the recording of the Final Plat occur after July 15t <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 Exhibit C for <br />breakdown of costs): <br />a. The City will collect a cash fee of $3,240 in lieu of land dedication for commercial <br />development. <br />Main Street Shoppes 2nd Addition <br />1.35 acres x $2,400 per acre <br />$3,240 <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. Not applicable no public street lights are <br />being installed. <br />c. Sealcoating. Not applicable. <br />page 6 <br />