2006.12.18 RESO 2006-0074 - Laserfiche WebLink

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Resolution 2006-74 Page 3 i. The HOA shall be solely responsible for maintaining of all of the outlots including the open space amenities in Outlot B, the tall grass prairie, the stormwater management ponds, the rain gardens and the community well and wastewater treatment system as stated in the Declaration of Covenants, Conditions, Restrictions, and Easements dated November 29, 2006, except as amended by this resolution. j. The final Declaration of Covenants, Conditions, Restrictions, and Easements and other HOA documents shall be submitted for review and final approval by the City Attorney. k. The trail easement documents must be submitted for review and approval by the City Attorney. 1. The developer or HOA shall enter into a maintenance agreement with the City for the public park areas. in. The open space management and restoration plan received October 23, 2006 shall be revised to include the maintenance of the stormwater management ponds within the open space areas. n. The applicant shall obtain approval from the Minnesota Land Trust Board of Directors and comply with all Land Trust requirements. o. The applicant shall provide a conservation easement in favor of the City and the Land Trust over all of the permanent open space to ensure that the open space is preserved in perpetuity. p. The applicant shall pay the amount of the contribution required by the Minnesota Land Trust to cover the costs of maintaining the conservation easement. The intent of this contribution is to ensure that the easement is protected, not for maintenance of the open space. q. The applicant shall create an open space endowment fund to the homeowners' association where the principal will generate significant annual interest to cover the costs of maintaining the open space in perpetuity. The amount of the initial contribution to the open space endowment fund and the monthly fee per lot stated in the memo from NAWE received October 26, 2006 shall be revised to meet this requirement. The endowment amount shall be subject to review and approval by the City to ensure compliance. r. An estimate of the total anticipated monthly HOA fees per lot broken down by category (i.e. open space maintenance including the rain gardens and the stormwater ponds, community well and septic system maintenance, the common area amenities and other common expenses) shall be submitted by the developer for review by City staff.