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<br /> <br /> <br />Apple Academy 9 <br /> <br /> h) Deed restrictions shall advise owners of all lots of the requirements of <br />this Development Agreement as follows: THE LAND WITHIN THIS SITE PLAN, <br />INCLUDING THE LAND CONVEYED HEREIN, IS BOUND BY RESTRICTIONS IN A <br />DEVELOPMENT AGREEMENT. SAID DEVELOPMENT AGREEMENT IS ON FILE AT <br />THE OFFICE OF THE WASHINGTON COUNTY RECORDER. <br /> <br /> i) Developer acknowledges that a separate Development Agreement will <br />be entered into at the time of final site plan approval of subsequent phases. That Development <br />Agreement will address, among other things, necessary improvements to be made, financial <br />guarantees to be provided, and the amount of the development fees to be paid by the Developer. <br /> <br /> j) Developer shall remove all tree waste, junk, miscellaneous debris, <br />junk vehicles, and any other personal property from the land which does not comply with the City <br />Zoning Ordinance until final acceptance of the improvements. <br /> <br />E. DAMAGES AND DEFAULT: <br /> <br /> 1. Developer agrees to pay liquidated damages to the City if any lot has a real <br />estate closing occur before all public improvements within the Site Plan are certified as being <br />substantially completed by the City. Specifically, Developer agrees to immediately pay to the City <br />liquidated damages in the amount of Ten Thousand Dollars ($10,000.00) for each lot closing which <br />occurs in violation of this paragraph. The City shall be authorized to retain an appropriate percentage <br />of the financial guarantee referred to in paragraph 4 as security for payment of any liquidated damages <br />owed to the City. <br /> <br /> 2. Developer agrees to pay liquidated damages to the City, in the amount of Five <br />Thousand Dollars ($5,000.00), if the Developer encroaches upon any City road right-of-way or utility <br />easement not permitted on the plans without first obtaining a written permit from the City expressly <br />authorizing said encroachment. The City shall be authorized to retain an appropriate percentage of <br />the financial guarantee referred to in paragraph 4 as security for payment of any liquidated damages <br />owed to the City. <br /> <br /> 3. Events of Default. <br /> <br /> a) Events of Default Defined. The following shall be "Events of <br />Default" under this Agreement and the term "Event of Default" shall mean, whenever it is used in this <br />Agreement, any one or more of the following events: <br /> <br /> 1. Subject to unavoidable delays, failure by Developers to commence <br />and complete construction of the Public Improvements pursuant to the