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Bald Eagle Addition <br />Development Agreement <br />March 8, 2021 <br /> page 6 <br />purchasers and owners. This shall be recorded against the Subdivision described on <br />Page 1. <br />15. Escrow for City’s Costs. <br />a. The Developer agrees to establish a non-interest bearing escrow account with <br />the City in an amount determined by the City Administrator or their designee for <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 B for <br />breakdown of costs): <br />i. Planning/ Review <br />ii. Administration - 3% of Developer Improvement Costs <br />iii. City Engineering and Legal <br />iv. Street lighting installation Not Applicable <br />v. Traffic signing improvements Not Applicable <br />vi. Boulevard tree planting Not Applicable <br />vii. Street, storm sewer and pond maintenance <br />viii. 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 with suitable documentation supporting the <br />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 B for <br />breakdown of costs): <br />a. Park Dedication <br />The Park Dedication Fee for this site is calculated as follows: <br />1 unit x $3,160 per unit (Residential) = $3,160 <br />b. Energy costs for street lights are not applicable.