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<br /> <br /> <br />Apple Academy 18 <br /> <br />EXHIBIT _C <br /> <br />ESCROWS, FEES AND CHARGES <br /> <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 $1,488.00. This sum is calculated to be four percent (4%) of the estimate of the required <br />improvements to be installed to serve the development. <br /> <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 />$46,473.00. This amount may be reduced upon request of the Developer and approved by the City. <br />At no point shall the Letter of Credit be reduced below 10% of the original amount. The City shall <br />have the right to retain the financial guarantee until the improvements have been completed to the <br />satisfaction of the City and the warranty period has expired. <br /> <br /> c) Storm Water Trunk Fee. The Developer shall pay the City a Storm <br />Water Trunk Fee in the amount of $6,587.00. This sum is calculated to be $0.07 per square foot for <br />the 94,090 square feet of Net Developable Area within the Site Plan. This fee shall be paid before <br />the issuance of building permits by the City. <br /> <br /> d) Storm Water Ponding Fee. Ponding fees are waived since the <br />developer is installing onsite ponds. <br /> <br /> e) Snow Plowing. Snow Plowing fees are waived since no roads will be <br />accepted by the City for this site plan. <br /> <br /> f) Sealcoating. Seal Coating fees are waived since no streets exist within <br />the site plan. <br /> <br /> g) Park Dedication. Park Dedication fees are waived since the site plan <br />does not require park dedication. <br /> <br /> h) Cul-de-sac Escrow. Cul-de-sac escrow fees are waived since no <br />temporary cul-de-sacs will be created. <br /> <br /> i) Escrow for Street Signage. Street signage fees are waived since no <br />signage will be installed on the site by the City.