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<br />NOW THEREFORE, in consideration of the above premises, the promises and provisions <br />contained herein and other good and valuable consideration, the receipt and sufficiency of which is <br />hereby acknowledged, the City and Developer agree as follows: <br /> <br />1. Incorporation of Recitals. The foregoing recitals shall be and are hereby incorporated <br />into and made a part of this Agreement. <br /> <br />2. Development Approval. The parties acknowledge that the site plan for the project <br />(the "Site Plan") was approved by the City's Planning and Zoning Commission on July 13, 2005. <br />The Site Plan for the Property is specifically incorporated into this Agreement by reference, as <br />Exhibit "B" for the purpose of clarifying boundaries, locations, areas, and improvements described in <br />this Agreement, and all development shall be in accordance with and subject to the terms of the said <br />Site Plan. <br /> <br />3. Developer Commitments. The conditions and commitments made as to this <br />development approval, all of which are hereby accepted by and agreed to by the Developer and the <br />City, are as follows: <br /> <br />A. The Developer shall design, permit, and construct a sanitary sewer system <br />consisting of a manhole connecting to an existing 12-inch stub-out, three <br />additional manholes adjacent to the Southwest, Southeast and Northeast corners <br />of the Property and approximately 651 linear feet of 8-inch PVC sewer main, <br />including a stub-out to the east. The City hereby agrees to reimburse the <br />Developer for the three additional manholes and 605 linear feet of sewer upon <br />acceptance of the above-referenced improvements by the City. The City must find <br />the sanitary sewer system to be built according to the approved Site Plan in order <br />to accept said sanitary sewer system. <br /> <br />B. The Developer shall provide the City the plans for the sanitary sewer system, and <br />shall provide the City a written estimate ofthe anticipated costs ofthe design, <br />permitting and construction of the utility systems for which the City has agreed to <br />reimburse the Developer before beginning construction. The City must <br />reasonably approve or deny said design and said costs (the "anticipated costs") in <br />writing within ten (10) business days of receipt. The City's consent must be <br />obtained prior to commencement of the work. In the event the actual costs <br />exceed the anticipated costs, the Developer shall provide the City with the detail <br />regarding such cost differences and justification for the discrepancy. It shall be <br />within the City's sole discretion to decide whether to pay the difference between <br />the actual costs and the anticipated costs. The City shall pay to Developer the <br />City's share of the agreed to costs within thirty (30) days of acceptance of the <br />improvements for maintenance by the City. <br /> <br />C. Upon completion of the sanitary sewer system and related facilities and receipt of <br />reimbursement per the above provisions, the Developer shall record a Bill of Sale <br /> <br />2 <br />