RES 19-091 APPROVING A PLANNED UNIT DEVELOPMENT AGREEMENT FOR SILVER LAKE VILLAGE

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NOW, THEREFORE, in consideration of the above premises and the mutual obligations and conditions hereinafter contained, the sufficiency of which is hereby acknowledged by the Parties, the Parties hereby agree as follows: Defined Terms In addition to other terms defined herein, the following terms used in this Development Agreement shall have the meaning set forth below: "Project PUD Approvals" means, collectively, those conditions pursuant to which the City approved the Preliminary Plan for Amendment to the Silver Lake Village PUD, such conditions listed as items 1-17 in Resolution No. 19-065, adopted by the City on September 10, 2019, a copy of which is attached hereto as Exhibit F. "Work" means all design and construction services provided or required to be provided by the Developer, including the improvements and activities described herein, whether completed or partially completed, and includes all other labor, materials, equipment and services provided or to be provided by the Developer to properly complete the Plan B Improvements. A. Designation of Work and Activities The "Plan A Activities" (defined in Section B hereof) are activities to be completed at the expense of the Developer in connection with completion of the Project. Unless otherwise provided herein, all Plan A Activities shall be performed by or on behalf of the Developer and are to be maintained by or on behalf of the Developer (or any successor owner of the applicable portion of the Property) (a "Lot Owner") in accordance with the provisions of this Development Agreement. The "Plan B Improvements" (defined in Section C hereof) are infrastructure improvements to be installed and financed by the Developer and generally consist of the following, as each is further detailed in the approved construction plans and as the same may be further defined in Section C: realignment of the existing emergency overflow outlet storm sewer system from the exiting overflow outlet located from the western property line of the Property to Silver Lake Road, as further depicted in Exhibit D attached hereto. B. Plan A Activities The Developer will, at the Developer's expense, perform or cause to be performed the following as "Plan A Activities," with estimated costs and security deposit requirements as described in Exhibit B attached hereto and made part of hereof by reference, according to the following terms and conditions: 1. Street Maintenance The Developer shall be responsible for public street maintenance, including installation and maintenance of turf and street sweeping, until the Project is 2 623964v4