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• <br />• <br />• <br />Development Contract <br />Golden Acre <br />8 -27 -2007 <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. <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 determined by the City Administrator or his designee for the <br />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. Plat Review Fee <br />2. Planner Review Fee <br />3. Administration - 3% Construction Cost <br />4. Engineering <br />a) Administration <br />5. Legal - Plat Review <br />6. Publications <br />7. Park Dedication Fee <br />8. Tree Preservation Policy <br />9. Boulevard Tree Planting <br />10. Street - Storm Sewer - Pond Maintenance <br />11. Sealcoating Fund <br />12. 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 charge. <br />page 6 <br />