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25. SUMMARY OF CASH REQUIREMENTS AND FEES. The following is a <br />summary of the cash requirements and fees due under this Contract, which must be paid in cash at <br />the time of final plat approval: <br />Park Dedication Fee $27,750.00 <br />Storm Water and Drainage Trunk Fee 46,080.00 <br />Final Plat Fee 700.00 <br />Total Cash Requirements & Fees 74 530.00 <br />26. WARRANTY. The Developer warrants all Improvements against poor material and <br />faulty workmanship. The warranty period for streets is one year. The warranty period for underground <br />utilities is two years and shall commence following completion and acceptance by the City Council. The <br />one year warranty period on streets shall commence after the final wear course has been installed and <br />accepted by the City Council as documented in official City minutes. The Developer shall post a <br />maintenance bond, letter of credit or cash deposit (the "Maintenance Security") in an amount reasonably <br />determined by the City Engineer. The City Engineer shall examine the condition of the Improvements when <br />determining the amount of the Maintenance Security. The City shall retain ten percent (10%) of the security <br />until the Maintenance Security is furnished the City or until the warranty period expires, whichever first <br />occurs. The retainage may be used to pay for warranty work. The City standard specifications for utilities <br />and street construction identify the procedures for final acceptance of streets and utilities. <br />27. RESPONSIBILITY FOR COSTS. <br />A. Except as otherwise specified herein, the Developer shall pay all costs incurred by <br />it or the City in conjunction with the development of the Land, including but not limited to Hennepin <br />County Environmental Services and Minnehaha Creek Watershed District charges, legal, planning, <br />engineering and inspection expenses incurred in connection with approval and acceptance of the Plat, the <br />preparation of this Contract, review of construction plans and documents, and all costs and expenses <br />incurred by the City in monitoring and inspecting development of the Land. <br />188905v1 12 <br />