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The Village No. 5 <br />Development Contract <br />May, 2013 <br />refuse to issue building permits to any of the property within the plat on which the <br />assessments have not been paid. <br />IV. RECORDING AND RELEASE <br />A. The Developer agrees that the terms of this Development Contract shall be a <br />covenant on any and all property included in the Subdivision. The Developer agrees <br />that the City shall have the right to record a copy of this Development Contract with <br />the Anoka County Recorder to give notice to future purchasers and owners. This <br />shall be recorded against the Subdivision described on Page 1 hereof. City shall <br />provide to Developer upon payment of all the special assessments levied against a <br />parcel, a release of such parcel from the terms and conditions of this Development <br />Contract subject to provisions contained in this contract. The Property is released <br />from the Site Improvement Performance Agreement dated January 13, 2006 . <br />V. REIMBURSEMENT OF COSTS <br />A. The Developer agrees to establish a non - interest bearing escrow account with the <br />City in an amount reasonably determined by the City Administrator or his designee <br />for the payment of all costs incurred by the City related to the development of the <br />Subdivision and the Developer Improvements including, but not limited to, the <br />following (See Attachment B for breakdown of costs): <br />1. Planner Review Fee <br />2. Administration - 3% Construction Cost <br />3. Engineering <br />4. Legal <br />5. Publications <br />6. Park Dedication Fee <br />7. Street - Storm Sewer - Pond Maintenance <br />8. Aerial Photo Recovery Cost <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 reimburse <br />itself from the Escrow upon notice to the Developer, with suitable documentation <br />supporting the charges. <br />VI. TRUNK UTILITY & SURFACE WATER MANAGEMENT CHARGES <br />A. Trunk Sewer Unit Charges. The City has established trunk unit charges to <br />uniformly distribute the costs of public trunk sanitary sewer infrastructure. Each <br />individual connection to the sanitary sewer system shall be charged a unit charge <br />per SAC unit (currently at $2,911 per SAC unit) at the time of building permit <br />page 8 <br />• <br />