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• r <br /> EXHIBIT C <br /> ESCROWS,FEES AND CHARGES <br /> a) Escrow for City Costs and Fees. Developer shall deposit sufficient <br /> escrow with the City as outlined in Section A. 1. The required beginning balance in the account is <br /> calculated at $8,546.76. This sum is calculated to be four percent (4%) of the estimate of the <br /> required improvements to be installed to serve the development. <br /> b) Cash Escrow or Letter of Credit. Developer shall provide a financial <br /> guarantee to the City, in the form of a cash escrow or letter of credit, in the amount equal to one <br /> hundred twenty-five percent (125%) of the estimated amount of the required improvements to be <br /> installed to serve the development. This amount has been calculated by the City's Engineer to be <br /> two hundred sixty seven thousand and eighty six dollars$267,086). This amount may be reduced <br /> upon request of the Developer and approved by the City. At no point shall the Letter of Credit be <br /> reduced below 10% of the original amount. The City shall have the right to retain the financial <br /> guarantee until the improvements have been completed to the satisfaction of the City and the <br /> warranty period has expired. <br /> c) Storm Water Trunk Fee. The Developer shall pay the City a Storm <br /> Water Trunk Fee in the amount of$9,568.51. This sum is calculated to be$0.07 per square foot for <br /> the 136,693 square feet of Net Developable Area within the Plat. This fee shall be paid before the <br /> Final Plat is signed by the City. <br /> d) Storm Water Ponding Fee.The storm water ponding requirement has <br /> been met by the Developer within the plat. No storm water ponding fee will be applied. <br /> e) Snow Plowing. Developer agrees to pay a cash escrow to the City to <br /> cover the cost of snowplowing the roads within the plat, during the first snow season, before the <br /> roads are formally accepted by the City of$.50 per lineal foot. The Developer shall post a cash <br /> escrow with the City in the amount of$157.50(i.e.,$0.50 x 315=$157.50). <br /> f) Sealcoatin . The Developer shall post a cash escrow with the City in <br /> the amount of$1,260.00 to cover the cost of the first sealcoating of the streets in the Plat. This sum <br /> is calculated to be$4.00 per foot for the 315 feet of streets within the Plat. <br /> g) Park Dedication. Developer agrees to pay a park dedication fee of$1,956 <br /> per lot for residential development payable before the final plat is signed by the City. Said fee shall <br /> be due for each of the 6 lots within the plat(i.e.total due$11,736). <br /> Prairie V111age r1 rst Addition <br /> 18 <br />