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Watermark 8th Addition <br />Development Agreement <br />September 9, 2024 <br /> page 9 <br />hook-up, whichever is first. Residential trunk charges are based on one unit per <br />dwelling unit <br /> <br />Water $2,496.00 Per Unit <br /> <br />Availability Charge <br /> <br />For residential properties, the availability charge shall be paid at the time of <br />subdivision approval or at the time of hook-up, whichever is first. Residential <br />uses shall be assigned one unit per dwelling unit unless otherwise noted by <br />MCES. <br /> <br />City Water (CWAC) $1,570.00 Per SAC Unit <br /> <br />An estimate of the total charge and the trunk utility credit for developer installed <br />trunk oversizing is specified in Exhibit B. <br />f. Surface Water Management Area Charges <br />The City established a trunk area charge to uniformly distribute the costs of <br />public trunk surface water infrastructure and water quality improvements. The <br />Surface Water Management Charge shall be based on developable acreage, in <br />the amount specified in Exhibit B. The charge shall be paid at the time of <br />subdivision approval. <br />17. Assessment of Charges and Waiver of Rights. <br />a. In consideration of the construction of City Improvements listed in Section 7 and <br />/or provision of sewer, water and storm water services, the Developer agrees <br />that the costs of City Improvements together with Trunk Sewer Unit Charge, <br />Trunk Water Unit Charge and the Surface Water Management Area Charge <br />(collectively, “the Charges”) may be assessed against the Subdivision parcels. <br />The Developer hereby waives any and all procedural and substantive objections <br />to the special assessments, including notice and hearing requirements, any claim <br />that the assessments exceed the benefit to the properties, and any right to <br />appeal. <br />b. Unless the Developer pays the entire balance owed for the Charges <br />contemporaneously with the execution of this Agreement, the Developer shall <br />provide to the City a cash escrow or irrevocable letter of credit in an amount <br />equal to 35% of the total assessments for the Charges as estimated by the City <br />Engineer (see Exhibit B). The letter of credit shall be in a form, and from a bank, <br />as approved by the City. The letter of credit or cash escrow may be used by the