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4. Engineering <br />a) Administration <br />5. Legal - Plat Review <br />6. Publications <br />Development Contract — Site Grading Only <br />Pine Glen <br />March 13, 2006 <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. <br />VI. BUILDING PERMITS <br />A. The Developer agrees that building permits may be issued upon approval of the <br />Final Plat by the City Council at which time all required Financial Security shall be <br />in place with the City. The Developer further agrees that City Sewer, Water, Storm <br />Sewer, and Bituminous Base Construction of the Streets, temporary street signs, gas, <br />electric, and telephone will be completed prior to the issuance of building permits. <br />B. The Developer shall submit an as -built survey certifying that all the grading complies <br />with the grading plan prior to issuance of building permits. <br />C. Model Homes <br />The City agrees that one structure per ten (10) acres can be installed as model homes <br />upon approval of the Development Contract (Site Grading Only). The right to obtain <br />such building permits shall be contingent upon the following: <br />1. Execution of this development contract, providing a Letter of Credit in the <br />amount of $100,000.00 and an escrow amount of $10,000.00. <br />Construction shall be limited to maintain a minimum distance of 150' from <br />the furthest exterior wall to an improved gravel street as per the State Fire <br />Code. The Developer may construct and maintain such access in order to <br />meet said requirements. <br />page 9 <br />- 7 1 - <br />