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CITY OF ORONO <br />RESOLUTION OF THE CITY COUNCEL <br />NO. 6835 <br />A. Lot lines platted per preliminary plat survey/drawing by Gronberg <br />and Associates dated December 6, 2017 attached hereto as Exhibit <br />B, except as modified herein. <br />B. Dedication of "drainage and utility easements" 10' along exterior <br />property lines and 5' along the interior property lines. <br />C. Dedication of "Drainage Easements" over all drainageways <br />D. Name of plat. <br />2). Legal documents required: <br />A. Title opinion addressed to the City or a title insurance policy in favor <br />of the City. All owners, mortgage holders or others with property <br />interest indicated therein shall sign the plat and all other documents <br />affected by such interest. <br />B. The applicant must provide certified copies of all recorded <br />easements currently affecting the property. <br />C. Signed Developers Agreement and Letter of Credit for construction <br />of improvements. The City Engineer shall establish the amount to <br />be provided in the Letter of Credit. <br />3). Fees required: Application fee, Park dedication, Stormwater and Drainage Trunk <br />enumerated above. <br />E. Development Agreement. Development Approval is contingent upon the <br />successful execution of a Development Agreement between the applicant and the <br />City. Such Agreement shall address all specific City requirements for the <br />development. <br />F. Financial Guarantee. The Development Agreement shall include a financial <br />guarantee by the applicant to ensure the completion of site improvements. The City <br />Engineer shall complete an estimate of improvement costs, including but not <br />limited to streets, curb & gutter, sanitary sewers, landscaping, grading, erosion <br />control, utilities, and stormwater management facility construction, and the <br />applicant shall provide to the City a financial guarantee of 150% of the <br />improvement costs. <br />6 <br />