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Natures Refuge North <br />Development Agreement <br />September 8, 2025 <br /> page 7 <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 (by utility company, developer to initiate) <br />v. Street, storm sewer and pond maintenance <br />vi. 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 />Natures Refuge North 1st Addition <br />Total # Units = 45 <br />x Park Dedication Fee $3,500 <br />= Cash in Lieu Value $157,500 <br />(Trail Construction Costs) ($46,920) <br />TOTAL CASH FEE DUE = $110,580 <br /> <br />Page 88 of 168