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CITY OF ORONO RESOLUTION OF THE CITY COUNCIL NO. 6835 HO • A. Lot lines platted per preliminary plat survey/drawing by Gronberg and Associates dated December 6, 2017 attached hereto as Exhibit B, except as modified herein. B. Dedication of "drainage and utility easements" 10' along exterior property lines and 5' along the interior property lines. C. Dedication of"Drainage Easements"over all drainageways D. Name of plat. 2). Legal documents required: A. Title opinion addressed to the City or a title insurance policy in favor of the City. All owners, mortgage holders or others with property interest indicated therein shall sign the plat and all other documents affected by such interest. B. The applicant must provide certified copies of all recorded easements currently affecting the property. C. Signed Developers Agreement and Letter of Credit for construction of improvements. The City Engineer shall establish the amount to be provided in the Letter of Credit. 3). Fees required: Application fee, Park dedication, Stormwater and Drainage Trunk enumerated above. E. Development Agreement. Development Approval is contingent upon the successful execution of a Development Agreement between the applicant and the City. Such Agreement shall address all specific City requirements for the development. F. Financial Guarantee. The Development Agreement shall include a fmancial guarantee by the applicant to ensure the completion of site improvements.The City Engineer shall complete an estimate of improvement costs, including but not limited to streets, curb & gutter, sanitary sewers, landscaping, grading, erosion control, utilities, and stormwater management facility construction, and the applicant shall provide to the City a financial guarantee of 150% of the improvement costs. 6