07-24-2023 City Council Packet - Laserfiche WebLink

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Watermark 6th Addition Development Agreement July 24, 2023 page 12 over Lots 2-8, Block 1, Watermark 6th Addition stating that these lots have limited ability to construct accessory structures due to drainage and utility easement. d. Grading and seeding per the approved RCWD permit 20-115 shall be substantially completed in Restoration Area 2 (RA2) prior to Council approval of Watermark 7th Addition. e. Financial securities will not be reduced until City punch list items related to Watermark 1st Addition and Watermark 2nd Addition items have been addressed. This clause shall exclude items identified during the warranty period. f. The City Council shall pass a resolution to allow the north 150 acres of the development to occur in Utility Staging Area 1B (2025-2030). g. Homeowners’ Association Covenants and Restrictions i. The Developer shall establish a Homeowners’ Association (the “HOA”) for all phases of the Development and shall submit a Master Homeowners’ Association Covenants and Restrictions to the City Attorney for review. The Master Homeowners’ Association Covenants and Restrictions shall, among other matters, provide for the collection of annual dues for the HOA’s maintenance obligation for the [fence and noise wall, collectively, the “Buffer”] within each phase of the Development, together with reasonable reserves. The Covenants and Restrictions shall provide that the City has the right to perform maintenance of the Buffer if the HOA fails to do so in compliance with applicable rules and regulations, and allow for the City to assess a lien or a Minn. Stat. Ch. 429 special assessment against the homesites for work which was to be paid for by the HOA dues. Homeowners’ Association Covenants and Restrictions applicable to each phase will be submitted at the time of final plat approval of each phase, and the City shall have the right to review and to approve those portions of the Covenants and Restrictions for each Community within the Development that are required by the terms of this Agreement. Any amendments to the Homeowner’s Association Covenants impairing the rights of the City shall be approved by the City Attorney. The Developer and Owner hereby waive, on their own behalves and on behalf of future owners, any procedural or substantive challenge to assessments under this section. All Covenants for the Project shall include language consistent with this section. 20. Hours of Construction Activity. All construction activity shall be limited to the hours as follows: