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• <br />plans and specifications for the project and shall submit the same to the Lino Lakes Engineer for <br />review and approval. <br />Developer shall provide a financial guarantee to Lino Lakes in the form of a cash <br />escrow or letter of credit, in the amount equal to One Hundred Fifty Percent (150 %) of the <br />estimated amount of the cost of the water system to be constructed. <br />K. The Developer shall pay to Hugo the prevailing water availability charges <br />and connection charges as are customary for all water hook -ups in the City of Hugo. No <br />connection charges or water availability charges shall be paid to the City of Lino Lakes. <br />L. All water use charges that are delinquent shall be handled in like manner <br />as other delinquent water charges in the City of Hugo. <br />M. As part of the construction of the water system contemplated herein, <br />Developer shall also install a water meter at or near the junction point with the Lino Lakes <br />municipal water system. This meter shall measure the volume of water used in the City of Hugo <br />in the Victor Gardens plat. <br />ARTICLE II <br />Responsibilities of Lino Lakes <br />A. All work to be done in constructing and installing the water system shall <br />be done subject to the approval of the Lino Lakes City Engineer in accordance with Lino Lakes <br />city standards and requirements, and upon plans prepared by Lino Lakes. Lino Lakes agrees to <br />authorize its engineer to inspect the plans and observe the site to insure that the system is <br />adequately and properly installed. <br />5 <br />