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CITY OF ORONO <br /> RESOLUTION OF THE CITY COUNCIL <br /> NO. 7 1 6 5 <br /> kESHO- <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 /> ADOP 1'ED by the Orono City Council on this 22nd day of February,2021. <br /> ATTEST: CITY OF ORONO: <br /> °ANL 084'—' is)-9-3291/-- <br /> Anna Carlson, City Clerk Dennis Walsh,Mayor <br /> 7 <br />