Resolution 6907 - Laserfiche WebLink

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��p CITY OF ORONO RESOLUTION OF THE CITY COUNCIL y� � No. b o n 7 � �'�K6S H�4� 2. Legal documents required: a. Title opinion addressed to the City or a title insurance policy in favor of the City. All owners, mortgage holders or others with property interest indicated therein shall sign the plat and all other documents affected by such interest. b. The Owners must provide certified copies of all recorded easements currently affecting the Property. c. Signed Developers Agreement and Letter of Credit for construction of development improvements. The City Engineer shall confirm the amount to be provided in the Letter of Credit. d. A Drainage and Utility Easement shall be granted over the perimeter and driveway of Outlot A. e. Access easements shall be provided over Outlot A for proposed Lot 2 and 2715 Pence Lane; a Maintenance Agreement for the driveway improvement should also be prepared by the Owners. 3. Financial Guarantee. The Owners shall submit a final plat review escrow in the amount of$2,500.00 with the final plat application. Additionally, the Development Agreement shall include a financial guarantee by the Owners to ensure the completion of site improvements. The City Engineer shall complete an estimate of improvement costs, including but not limited to storm sewers, landscaping, grading, erosion control, utilities, driveways and stormwater management facility construction, and the applicant shall provide to the City a financial guarantee of 150% of the improvement costs. 4. Plat approval fees to be paid: Total due: $16,550.00 a. Final plat fee: $500.00. b. Park Dedication Fee: $5,550. c. Stormwater and Drainage Trunk Fee: $10,500.00. 5. Violation of or non-compliance with any of the terms and conditions of this resolution may result in the termination of any authority granted herein. 6