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s,L04/-0 CITY OF ORONO <br /> RESOLUTION OF THE CITY COUNCIL g <br /> NO. 7 1 6 5 <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 125% of the <br /> improvement costs. <br /> ADOPTED by the Orono City Council on this 22nd day of February, 2021. <br /> ATTEST: CITY OF ORONO: <br /> 0/nraL 081/1t-- 1)---9'--tClgi— <br /> Anna Carlson, City Clerk Dennis Walsh, Mayor <br /> 7 <br />