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Development Contract— Site Grading Only <br /> Pine Glen <br /> March B, 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 />