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31 <br />LA515\135\943139.v2 <br />been satisfied, the City Engineer may approve a one-time reduction in the Security <br />for Construction Categories 2-5 in an amount not to exceed 50 percent of the initial <br />Security amount. This one-time Security reduction does not apply to Categories 4- <br />5 if boulevard sidewalks or trails have not been installed. <br />E. It is the intent of the parties that the City at all times have available to it Security in <br />an amount adequate to ensure completion of all elements of the Subdivision <br />Improvements and other obligations of the Developer under this Agreement, <br />including fees or costs due to the City by the Developer. To that end and <br />notwithstanding anything herein to the contrary, all requests by the Developer for <br />a reduction or release of the Security shall be evaluated by the City in light of that <br />principle. <br />36. SUMMARY OF CASH REQUIREMENTS. The following is a summary of the cash <br />requirements under this Agreement that must be paid to the City before recording the final plat: <br />Sewer Availability Charge (SAC): $138,000 <br />Water Availability Charge (WAC): $138,000 <br />Park Dedication per Paragraph 22: $ 96,656 <br />Parkland Dedication per Paragraph 19 (D): $76,590 <br />Street Light Operating Fee: $645 <br />City Base Map Upgrading ($25.00 per REU): $1,150 <br />City Engineering Administration Escrow: $50,000 <br />TOTAL CASH REQUIREMENTS: $501,041 <br /> <br /> <br />37. NOTICES. Required notices to the Developer shall be in writing, and shall be either hand <br />delivered to the Developer, its employees or agents, or mailed to the Developer by certified mail <br />at the following address: U.S. Home Corporation, 16305 36th Avenue North, Suite 600, Plymouth, <br />MN 55446. Notices to the City shall be in writing and shall be either hand delivered to the City <br />Administrator or mailed to the City by certified mail in care of the City Administrator at the following <br />address: Lake Elmo City Hall, 3880 Laverne Avenue N., Lake Elmo, Minnesota 55042. <br />38. EVIDENCE OF TITLE. The Developer shall furnish the City with evidence of fee