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CITY OF ORONO <br /> RESOLUTION OF THE CITY COUNCIL <br /> NO. 6990 <br /> G <br /> SHO <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 successful <br /> execution of a Development Agreement between the applicant and the City. Such <br /> Agreement shall address all specific City requirements for the development. <br /> F. Financial Guarantee. The Development Agreement shall include a financial guarantee <br /> by the applicant to ensure the completion of site improvements,including the construction <br /> of the private road and cul de sac. Costs shall be estimated by the developer,confirmed by <br /> the city engineer,and the applicant shall provide to the City a financial guarantee of 150% <br /> of the improvement costs. <br /> ADOPTED by the Orono City Council on this 10'day of June,2019. <br /> ATTEST: CITY OF ORONO: <br /> Anna Carlson,City Clerk L ennis Walsh,Mayor <br /> 5 <br />