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FROM lEOSARO. STREET AND DEINARD IMOS) 2. r 99 10:50/ST. lO:4D-i:C.4260455399 f 5 <br />4. <br />c. If Md D oT requires that a public road of specific standards (length, materials, etc.) <br />must be in place before the turnback occurs or vrithin a certain period of time after <br />the turnback occurs, theii the Developer and/or Often must either commit to <br />paying the costs of constructing that public road or construa it themselves to the <br />required specifications. <br />Option 3 — Fallback Option . If neither Option 1 nor Option 2 is implemented by February <br />1,2000 (“Deadline”), then permanent access to the Service 800 Parcel tvill be provided <br />through the Biimhall Triangle and the Often Parcel as shown on Exhibit D as follows: <br />a. <br />b. <br />c. <br />Prior to execution of the final plat of SUGAR WOODS 2ND ADDITION by any <br />municipal officials, Otten and the Developer must execute an easement agreement <br />for a private road over the Often Parcel as show'n on Exhibit D. The easement <br />rights will become eftective if neither Option 1 nor Option 2 is implemented by the <br />Deadline. The easement will automatic^y expire if either Option 1 or Option 2 is <br />implemented by the Deadline. The terms of the easement agreement must be <br />acceptable to City staff and the City attorney. <br />The Developer hereby commits to the City that, if Option 3 becomes necessary, <br />the Developer will install its access road as shown on Exhibit D by June 1, 2000. <br />If Option 3 becomes necessary and the Developer fails to install its access road as <br />shown on Exhibit D by June 1,2000, then the City may install or complete the <br />access road and charge all costs to the Developer. As security for Developer ’s <br />obligation to reimburse the City, the Developer shall post an irrevocable letter of <br />credit in the amount of S <br />GREEN VALLEY ASSOCIATES, INC. <br />Jean Mork Bredeson, President <br />CITY or ORONO <br />ni7S».<n