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