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p CITY OF ORONO <br />RESOLUTION OF THE CITY COUNCIL <br />y No. b o n 7 <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