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Development Contract — Site Grading Only <br />Saddle Club <br />July 14, 2014 <br />4. Conservation easements and drainage and utility easements required as <br />part of the site grading improvements, shall be recorded per this site <br />grading agreement or with the final plat. <br />5. The roadway right of way and easement for the Saddle Club PUD shall be <br />purchased and recorded prior to the approval of the final plat. <br />MII. VIOLATIONS <br />A. In the event that Developer violates any of the covenants and agreements contained <br />in this Development Contract and to be performed by the Developer, the City, at its <br />option. shall use the securities of this agreement to remedy the issue, until such time <br />as such default has been corrected to the satisfaction of the City. <br />XIV. PROPERTY TABS <br />A. Should the recording of the Final Plat occur after July 1, any and all property taxes <br />on any public property dedicated as a part of this plat shall be the responsibility of <br />the Developer. Dollars shall be incorporated into the escrow agreement to cover the <br />cost of said property taxes. <br />page 10 <br />