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Development Contract — Site Grading Only <br />Pine Glen <br />March 13, 2006 <br />resulting from the accumulation of said dirt and debris, until all <br />Certificates of Occupancy are issued. Warning signs shall be placed when <br />hazards develop in streets to prevent the public from traveling on same and <br />directing attention to detours. If and when the streets become impassable, <br />such streets shall be barricaded and closed. The Developer shall maintain a <br />smooth, hard driving surface and adequate drainage on all temporary streets. <br />8. Other Construction <br />a) In the event that damage to the streets or other City infrastructure <br />result from said improvement work, the Developer shall be <br />responsible for effecting said repairs, or the City shall withhold <br />escrows or deposits as the City deems appropriate and necessary. <br />b) The Developer shall provide a financial security or cash escrow in an <br />amount of $625,000 to assure completion of the grading and <br />restoration, in the event that the work is not completed by the <br />Developer. <br />c) No burning of vegetation cleared during construction shall be <br />allowed. <br />9. The project shall not be final platted until 2006 to comply with growth <br />management policy. <br />10. All homeowners association declarations, covenants, and property and legal <br />requirements as required in this Agreement shall be submitted to the City <br />Attorney for review as required by the City's final plat requirements. In <br />addition, an additional contract agreement shall be agreed upon between the <br />City and developer that provides for the subsequent construction, ownership <br />and maintenance of City owned utilities (sanitary sewer and water) and the <br />access street that will be privately owned and maintained. <br />11. Cost of Developer's Improvements, description and completion dates are as <br />shown on Attachment A. <br />12. Construction of Developer's Improvements: <br />a) The construction, installation, materials and equipment shall be in <br />accordance with the plans and specifications approved by the City. <br />b) All of the work shall be under and subject to the inspection and <br />approval of the City and, where appropriate, any other governmental <br />agency having jurisdiction. <br />page 6 <br />-68- <br />