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CITY OF ORONO <br />RESOLUTION OF THE CITY COUNCIL <br />NO.7559 <br />b. Dedication of "Drainage and Utility Easements" 10' along exterior property lines, <br />5' along the interior property lines, and over the stormwater pond, ditches, and <br />facilities. <br />c. Dedication of "Drainage Easements" over the wetlands, wetland buffers, and <br />drainageways. <br />d. Name of the plat. <br />C2. Financial Guarantee. <br />The Development Agreement shall include a financial guarantee by the Developer to <br />ensure the completion of site improvements. The Developer shall provide Itemized <br />construction estimates for all development improvements. The City Engineer shall <br />review the estimate of improvement costs, including but not limited to storm sewers, <br />landscaping, grading, erosion control, utilities, roads, and stormwater management <br />facility construction, and the Developer shall provide a financial guarantee in an amount <br />equal to 125% of the improvement costs to the City. <br />C3. Legal documents required: <br />a. Title opinion addressed to the City or a title insurance policy in favor of the City. <br />All owners, mortgage holders, or others with property interest indicated therein <br />shall sign the plat and all other documents affected by such interest. <br />b. The Developer must provide certified copies of all recorded easements currently <br />affecting the Property. <br />c. The City Engineer shall establish the amount to be provided in the Letter of <br />Credit. <br />d. Signed Developers Agreement and Letter of Credit for construction of <br />improvements. <br />e. Signed Covenant to Protect Drainfield Sites. <br />C4. Plat approval fees to be paid: Total due: $50,971.95 <br />a. Final Plat fee: $800.00. <br />b. Park Dedication Fee: $15,431.95 <br />c. Stormwater and Drainage Trunk Fee: $32,240.00. <br />d. Final Plat Application Escrow: $2,500.00 <br />253 <br />