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. p. 0,/ti <br /> o �,, o <br /> E <br /> ;0- CITY of ORONO <br /> �� 1 p RESOLUTION OF THE CITY COUNCIL <br /> �ESI30g NO. <br /> 11. Financial Guarantee. <br /> a) The PUD No.4 Agreement shall include a financial guarantee by the applicant <br /> to ensure the completion of site improvements. <br /> b) The City Engineer shall complete an estimate of improvement costs,including <br /> but not limited to public and private streets, curb & gutter, stormwater <br /> management facilities, landscaping, grading, erosion control, utilities, <br /> driveways and parking areas,trails,sidewalks,and retaining wall construction. <br /> c) Developer shall provide to the City a financial guarantee of 150% of the <br /> improvement costs prior to commencement of construction for each Phase. <br /> d) At no time during any Phase will the financial guarantee be reduced to to less <br /> than$100,000. This amount shall not be released until all improvements and <br /> obligation covered by the financial guarantee have been completed,including <br /> delivery of record plan sets to the City. <br /> 12. Upon the final approval and execution of this resolution and the Planned Unit <br /> Development No.4 Agreement,the City Council shall formally approve an ordinance <br /> amending the official zoning map of the City to rezone the portions of the Property <br /> north of Kelley Parkway to RPUD Residential Planned Unit Development, and <br /> amending the Orono Zoning'Code by adding language establishing Planned Unit <br /> Development No. 4 (PUD-4) to include all portions of the property. <br /> 13. Upon approval of this Resolution the City Council shall direct the Mayor and Clerk <br /> to execute other documents required by this PUD rezoning,including but not limited <br /> to the "Planned Unit Development No.4 Agreement",all subject to approval by the <br /> City Attorney. <br /> 14. Minor changes in the location,placement and height of structures may be authorized <br /> by the Development Review Committee if required by engineering or other <br /> circumstances not foreseen at the time the final plan was approved and filed with the <br /> Zoning Administrator. <br /> 15. Changes in uses: Changes to the approved final development plan deemed by the <br /> Planning Director to be significant maybe made only after a public hearing conducted <br /> by the Council. Any changes shall be recorded as amendments to the recorded copy <br /> of the final development plan. <br /> Page 14 of 18 <br />