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Grandview <br />Development Contract <br />October 22, 2007 <br />3. A development agreement between the city and the developer must be <br />executed prior to the issuance of any building permits for the site. <br />4. Park dedication must be paid in accordance with the city's fee schedule. <br />5. A conservation easement shall be granted over the drainage and utility <br />easement within the lots fronting Marshan Lake. Easement restrictions <br />shall be defined prior to city council approval of the fmal plat. <br />6. The Rice Creek Watershed District must review the project prior to <br />building permits being issued by the city for any new construction. <br />7. A boulevard tree shall be provided for each lot frontage. <br />8. The existing roadway easement shall be vacated by the City Council prior <br />to the approval of the fmal plat. <br />9. A written agreement from the property owners to the north will be required <br />for the off-site grading. A copy of these agreements must be provided to the <br />City prior to construction. <br />XIII. VIOLATIONSBUIL,DING PERMITS <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, in addition to the rights and remedies as set out hereunder may refuse to <br />issue building permits and/or Certificate of Occupancies to any property within the <br />Subdivision until such time as such default has been corrected to the satisfaction of <br />the City. <br />XIV. PARK DEDICATION <br />A. Park dedication in an amount of $14,525 shall be paid by the Developer to the City. <br />XV. PROPERTY TAXES <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 11 <br />