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Development Contract — Site Grading Only <br />The Preserve <br />June 11, 2007 <br />18. Approval of this resolution is contingent upon the rezoning Ordinance <br />08 -06 being in effect. <br />19. Outlot A shall be deeded to the City for the public purpose of a new well <br />site. <br />XIII. VIOLATIONS/BUILDING PERMITS <br />A. In the event that Developer violates any of the covenants and agreements contained <br />in this Development Contract and to be performed by the Developer, the City, at its <br />option, in addition to the rights and remedies as set out hereunder may refuse to <br />issue building permits and/or Certificate of Occupancies to any property within the <br />Subdivision until such time as such default has been corrected to the satisfaction of <br />the City. <br />XIV. PROPERTY TAXES <br />A. Should the recording of the Final Plat occur after July 1, any and all property taxes <br />on any public property dedicated as a part of this plat shall be the responsibility of <br />the Developer. Dollars shall be incorporated into the escrow agreement to cover the <br />cost of said property taxes. <br />page 14 <br />- 4 8 - <br />• <br />