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9. Si a e. Signage on the site shall be limited to the required traffic control signage, <br /> building designation si�s, and the approved nnonument signs as shown on the approved <br /> Signage Plan attached hereto as Exhibit I. Parking and traffic control signage shall be <br /> installed subj ect to City staff and City Engineer approval. <br /> 10. Additional Conditions of Approval are documented in the Special Conditions Memo <br /> attached to this Agreement as Exhibit K. <br /> B. Development Phasing <br /> 1. STONEBAY is intended to be developed in a number of sequential Phases over a period <br /> of 3-4 years. The various Phases have been designated as Phase One and Future Phases <br /> A through D, per the Phasing Plan attached hereto as Exhibit L. The sequential order of <br /> development of the various Future Phases has not been absolutely established, but relies <br /> to some extent on market conditions and demand. Therefore, this Agreement will pertain <br /> primarily to the Phase One improvements, and shall be amended as necessary prior to <br /> commencement of improvements for each Future Phase. <br /> 2. The Phase One improvements include the construction of Kelley Parkway and associated <br /> curb and gutter, sidewalks, lighting, signage and landscaping; construction of municipal <br /> sewer and water mains and facilities within the right-of-way of Kelley Parkway; <br /> construction of stormwater piping and facilities including the regional pond south of <br /> Kelley Parkway; construction of private roads and driveways as well as �private and <br /> public sewer and water lines and facilities within the area designated as Phase One as <br /> shown on Exhibit L; and general site grading for Phase 1 and future Phases. Phase One <br /> of the development inchtdes the construction of 28 two-story townhome units and 26 <br /> rambler townhome units. � <br /> 3. Commencement of Phase One improvements shall not occur until Developer has made <br /> payment to the City of the prorated portion of the Development Fees (Park Dedication <br /> Fee, Storm Water and Drainage Trunk Fee, and Sewer and Water Connection Chargesj <br /> for Phase One. Commencement of Future Phase improvements shall not occur until <br /> Developer has made payment to the City of the prorated portion of the Development Fees <br /> associated with said Future Phase. The Development Fees for each Phase shall be based <br /> on the proportional acreage or number of units within each Phase depending on the <br /> method of calculation of each fee, relative to the total project. The schedule of <br /> Development Fees is attached hereto as Exhibit M. <br /> 4. Nothing in this Agreement is intended to prohibit the commencement of Future Phases <br /> prior to completion of earlier Phases, nor to establish a specific sequence for the various <br /> Phases. Completion of Phase 1 improvements shall be required before commencement of <br /> any Future Phase, except that Phase 2 grading and utilities may be commenced prior to <br /> completion of Phase 1 improvements. <br /> Developer Initial ��� <br /> Page 5 of 19 City Clerk Initial� <br />