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*Aimt...,6 <br /> CITY OF ORONO <br /> RESOLUTION OF THE CITYCOUNCIL <br /> y NO. 71 8Opc. <br /> ACESH0°- <br /> filed in the chain of title of the property at the time the final plat or <br /> survey is recorded. <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, landscaping,grading,erosion control,utilities,and <br /> stormwater management facility construction,and the applicant shall provide to the <br /> City a financial guarantee of 125%of the improvement costs. <br /> ADOPTED by the Orono City Council on this 12th day of March, 2021. <br /> 1 / <br /> %1t <br /> EST: CITY OF ORONO: <br /> f�sf./ <br /> Carlson, City Clerk Dennis Walsh,Mayor <br /> 6 <br />