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Development Contract <br />Miller's Crossroads — Phase I 2 -18 -2004 <br />C. Model Homes <br />The Developer agrees that one eight -unit structure and one three -unit structure can <br />be installed as model homes upon approval of final plat. The right to obtain such <br />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 street as per the State Fire Code. <br />The Developer may construct and maintain such access in order to meet said <br />requirements. <br />3. Prior to release of the building permits for one eight -unit structure and one <br />three -unit structure, the builder shall enter into a separate agreement with the <br />City which would not allow the building to be occupied after issuance of <br />certificate of occupancy by anyone other than the builder for exhibiting the <br />home for model purposes nor would they convey the property to any other <br />third parties by any means until all of the public and private utilities have <br />been installed to serve the building and accepted by the City. This includes <br />all other requirements provided in this agreement <br />D. Each lot must comply with erosion control measures to prevent any material from <br />leaving the lot. The City of Lino Lakes will not perform any requested inspections on <br />the lot until it complies to the erosion control requirements. <br />E. Each lot must have a City approved Certificate of Grading showing the as-built <br />survey prior to an issuance of a Certificate of Occupancy. It shall be the responsibility <br />of the Developer, its purchasers, builders or contractors to ensure compliance with the <br />grading plan. <br />VII. HOURS OF CONSTRUCTION ACTIVITY <br />A. All construction activity shall be limited to the hours as follows: <br />Monday through Friday 7:00 a.m. to 7:00 p.m. <br />Saturday 9:00 a.m. to 5:00 p.m. <br />Sunday and Holidays No working hours allowed <br />VIII. OWNERSHIP OF IMPROVEMENTS <br />A. <br />Upon completion of the work and construction required by this contract and <br />acceptance by the City, the improvements lying within the public easements shall <br />become City property without further notice or action. <br />page 12 <br />