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1. Property Description: The Property is legally described as set forth in Exhibit A, and is to be <br /> replatted into Lots 1 through 3, Richie Addition. <br /> 2. Improvements: In accordance with the policies and ordinances of the City, the following <br /> described public or private improvements (hereinafter collectively called the "Improvements") shall <br /> be constructed and installed on the terms and conditions hereinafter contained: <br /> A. Site grading, including all necessary erosion control procedures (hereinafter called "site <br /> grading improvements"); <br /> B. Sanitary sewer lines a (hereinafter, sewer improvements) for which plans and <br /> specifications are to be approved by the City Engineer. <br /> C. Underground gas, electric, cable and telephone service to be arranged by Subdivider <br /> with the utility companies involved (hereinafter called "utility improvements"); and <br /> 3. Construction Plans: The following described detailed plans and specifications for the complete <br /> installation of the Improvements shall be submitted by the Developer for the approval of the City <br /> prior to the start of construction. The Plans and specifications shall conform to all currrent City <br /> standards for all applicable work. <br /> 4. Construction of Improvements: <br /> A. Commencement Date - The construction of Improvements shall begin no later than <br /> March 1, 2000. <br /> B. Completion Date - All Improvements shall be completed no later than September 1, <br /> 2000. <br /> C. Contractors - The Developer shall select, retain and supervise the Contractor(s) <br /> responsible for Improvement construction. The City reserves the right to require satisfactory <br /> proof of successful experience and adequate financial status of any such contractor. Where <br /> required by City ordinance, the contractor shall first obtain a license from the City. <br /> D. PreConstruction Conference - Prior to the start of any construction, the Developer and <br /> the Developer's Contractor shall meet with the responsible City official to review <br /> construction plans and schedules. j <br /> Initials of Subdivider <br /> Initials of City Clerk _ <br /> Page 2 of 7 <br />