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229446v1 <br />project, coordination for final inspection and acceptance, project monitoring during the warranty period, and <br />processing of requests for reduction in security. Construction observation shall include full to part time inspection <br />of all work associated with the Improvements. Based on past experience it is estimated that an escrow of five <br />percent (5%) shall be sufficient to cover the City related expenses associated with the work. Delays, change in work <br />scope, contractor performance, etc. can all contribute to this amount not being sufficient. All City costs experienced <br />in excess of the escrow are the responsibility of the Developer. These costs will be billed directly to the Developer <br />and become due per the terms stated in Section xx. Upon acceptance of all completed improvements, as required <br />by this agreement, any remaining balance will be returned to the developer within 30 days. <br />18. WATER AVAILABILITY CHARGE. Developer shall pay the Water Availability Charge <br />identified in the city’s fee schedule at the time of Final Plat recording. The current amount is Fourty-Four <br />Thousand, Seventy Eight and 00/100 dollars ($44,070.00), ($390 per lot). The balance of Water Access Charges <br />shall be paid at the time of building permit, by the permit applicant. <br />19. CONSTRUCTION ACCESS. Construction traffic access and egress for grading, public utility <br />construction, and public street construction is restricted to access the subdivision via Cleveland Street and Twin <br />Lakes Parkway utilizing the access from Cleveland Street. No construction traffic is permitted on the adjacent local <br />streets. <br />20. PARK DEDICATION. The Developer shall pay a cash contribution of $79,061.58 in satisfaction <br />of the City’s park dedication requirements. The charge was calculated as follows: 113 lots at $699.66 per lot. <br />Additionally, the developer will convey, by warranty deed, Outlots D, J, and F, providing 19.66 acres of <br />upland property as park dedication. City ordinance requires a land dedication of 36.63 acres (.0846 acres x 433 <br />homes) and the agreed upon land dedication comes to 29.87 acres, which satisfies 81.5% of the dedication <br />requirements. The remaining 18.5% will be paid in cash. The remaining land dedication of 10.21 acres will be <br />included with a future addition. <br />The total cash dedication of $245,580.30 for the Bradford Park Subdivision was calculated by multiplying <br />the total number of lots within the proposed development (433 lots) by the per lot cash dedication rate noted in <br />Page 71 of 299