May 16, 2006 CCP - Laserfiche WebLink

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F. Street Signs. The City will order and install street signs. The Developer shalt pay for all costs incurred by the City. G. Water Main. Water main improvements include pipes, hydrants and appurtenances and shall be completed on or before the 30th day of November, 2006. Developer is over -sizing water mains and the City shall reimburse Developer in the amount of $50,200 for such over -sizing. H. Water Availability. The City will extend a water main to the Subdivision and have water available to the Subdivision no later than the 301h day of March, 2007. 4.02 Estimated Cost of Developer Secured Improvements. The estimated costs of Developer constructed improvements are as follows: Improvement Estimated Cost Site Grading/Turf Restoration $ N/A (IN VBWD Escrow) Landscaping $ 206 000 Storm Sewer $ 53,900 Street Improvements $ 144 400 Traits $ 24,000 Waste Water Treatment System/Drain Fields $ 261,800 Street Signs $ 500 Water Mains $115,700 Subtotal $ 806,300 Total Security Required (1"25% of Improvements) $ 1,007,875 4.03 Improvement Security. Prior to the City's endorsement of approval on the final plat, the Developer shall deposit security with the City Administrator in an amount equal to 125% of the City Engineer's estimate of the cost of constructing the Developer secured improvements which have not been completed and accepted by the City prior to final plat approval. The security may be in the form of a cash escrow fund, a performance bond, or a letter of credit. The form of security shall be approved by the City Attorney. 4.04 Reduction of Security. Upon completion of required improvements for the Property and acceptance by the City, the City Council shall reduce the amount of security for the completed improvements provided that in no case shall the total remaining security be equal to less than 125% of the estimated costs of the incomplete improvements.