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• • • Development Contract Clearwater Creek 4th Addition c. A maximum of 45 building permits will be granted in 2001. d. The remainder of the building permits will be granted in 2002. e. Any permits not used one year can be carried over to the next year. 2. The Developer agrees that building permits may be issued in accordance with the phasing schedule in VI.B.1. and upon approval of the Final Plat by the City Council at which time all required Financial Security shall be in place with the City. The Developer further agrees that City Sewer, Water, Storm Sewer, and Bituminous Base Construction of the Streets, and temporary street signs will be completed prior to the issuance of building permits. 3. 100% of grading in Clearwater Creek Third Addition Phase I will be completed, including revegetation of ponding areas, before any building . permits are to be issued for the Fourth Addition. VII. HOURS OF CONSTRUCTION ACTIVITY A. All construction activity shall be limited to the hours set out in City Ordinances as follows: Monday through Friday 7:00 a.m. to 7:00 p.m. Saturday 9:00 a.m. to 5:00 p.m. Sunday and Holidays No working hours allowed VIII. OCCUPATION OF PREMISE A. The Developer further agrees that they will not cause to be occupied, any premises constructed upon the plat or any property within the plat until the completion of the gas, electric, telephone, and street improvements to the extent of the concrete curb, gutter and bituminous base required by this Development Contract have been installed, unless the City has agreed in writing to waive this requirement as to a specific premises. Furthermore, the City shall have the right to limit the issuance of building permits for lots within the subdivision if such home construction should interfere with construction of the City's improvements. 1X. OWNERSHIP OF IMPROVEMENTS A. Upon completion of the work and construction required by this contract and acceptance by the City, the improvements lying within the public easements shall become City property without further notice or action. page 11