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<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />CITY OF ORONO <br />RESOLUTION OF THE CITY COUNCIL <br /> <br />NO. ________________________ <br /> <br /> <br />7 <br /> <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 /> <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 /> <br />ADOPTED by the Orono City Council on this 22nd day of February, 2021. <br /> <br /> <br />ATTEST: CITY OF ORONO: <br /> <br /> <br />_______________________________ ________________________________ <br />Anna Carlson, City Clerk Dennis Walsh, Mayor