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<br /> <br />Liberty Classical Academy 17 <br />EXHIBIT C <br /> <br />ESCROWS, FEES AND CHARGES <br />*To be updated when cost estimates are provided <br /> <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 $________. This sum is calculated to be four percent (4%) of the estimate of the <br />required Improvements to be installed to serve the development, plus $5,000 which is the minimum <br />balance required in the account. <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 public improvements <br />to be installed to serve the development. This amount has been calculated by the City’s Engineer to <br />_____________________. This amount may be reduced upon request of the Developer and <br />approved by the City. At no point shall the Letter of Credit be reduced below 10% of the original <br />amount. The City shall have the right to retain the financial guarantee until the improvements have <br />been completed to the satisfaction of the City and the warranty period has expired. <br /> <br /> c) Storm Water Trunk Fee. Stormwater Trunk fees are waived since <br />the project is outside of the 2040 MUSA boundary. <br /> <br /> d) Storm Water Ponding Fee. The storm water ponding requirement has <br />been met by the Developer through the incorporation of on-site ponding. No storm water ponding <br />fee will be applied. <br /> <br /> e) Snow Plowing. N/A <br /> <br /> f) Sealcoating. N/A <br /> <br /> g) Park Dedication. N/A <br /> <br /> h) Cul-de-sac Escrow. N/A <br /> <br />i) Escrow for Street Signage. N/A. <br /> <br /> j) WCA Escrow. N/A <br /> <br />k) Sanitary Sewer Trunk Fee. N/A