Laserfiche WebLink
by the City, a warranty bond is provided, and the Public I�nprovements are accepted by the City <br /> Council. The City standard specifica�ions for utilities constructi.on outline procedures€or security <br /> reductions as provided in Orono City Code Section 82-214. The warranty bond shall have a <br /> duratxon of twenty-fouz(24)months. � <br /> 17. STORM WA�`ER A►ND DRAINAGE TRUNK FEE. The Development is <br /> subject to a Storm W�ter and Dra.inage Trunk Fee in the amount of$128,100.00. The fee is <br /> based on the gross area af the final Plat less any azea credit for pond area, and is calculated as <br /> follows: <br /> $7,320.00 per acre x 17.5 aeres = $128,100.00 The total fee for the <br /> Development of$128,100.00 sha11 be paid by fi11e Developer in cash upon the execution of tla.is <br /> Agreement. In no event shall an�additional :fee for Storm Water and Drainage Trunk be payable <br /> by Developer or assessed against the Development Praperty as a result of the construction of the <br /> Public Improvements as defined herein. The Development Property shall not be subject ta a <br /> special assessment in connec�ion wifih fihe initial installation of the street labeled "Orono <br /> , <br /> Industrial Boulevazd"on the land ta the sast of the Development Property. <br /> 18. PARK DEDICATION FEE. Developer sha11 pay a Park Dedication Fee for Lot <br /> l,Block l, based upon 8%of the mazket value of the properly calculated as follows: <br /> $750,000.0�x 8%=$6Q,000.00 � <br /> The Developer sha11 also pay a Park Dedication Fee for Lot 2, Block 2 calculated as , <br /> follows: � <br /> 3.01 acres x$13,875.00/acre= $41,764.00 <br /> R���e��� <br /> i3zzat �i� � JUN � 1 201 i <br /> � - �� - �� � <br /> _;:�l�a � � . CITY��C�t�bN� <br />