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EXHIBIT B A DEVELOPERS AGREEMENT AND PUD AGREEMENT BE PREPARED OUTLINING THE TERMS AND CONDITIONS OF THE PLAT APPROVAL AND INSTALLATION OF IMPROVEMENTS PRIOR TO RELEASING THE PLAT FOR RECORDING. ALL COMMENTS OF THE CITY ENGINEER BE ADDRESSED. THAT WRITTEN APPROVAL IS OBTAINED FROM THE APPLICABLE PROPERTY OWNERS, PRIOR TO GRADING OFF SITE ON PRIVATE PROPERTY. 4. THAT SOIL BORINGS BE CONDUCTED ON LOTS AS REQUIRED BY THE CITY ENGINEER PRIOR TO FINAL PLAT TO ENSURE SUITABILITY FOR SEPTIC SYSTEMS. 5. THAT SEPTIC AREAS BE FENCED DURING CONSTRUCTION TO PREVENT COMPACTION. 6. THAT A HOMEOWNERS ASSOCIATION DOCUMENT BE PREPARED, SUBJECT TO THE CITY ATTORNEY REVIEW AND APPROVAL, PRIOR TO RELEASING THE FINAL PLAT FOR RECORDING. 7. THAT THE DNR REVIEW AND APPROVE THE HOMEOWNERS ASSOCIATION MAINTENANCE AGREEMENT FOR INDIVIDUAL SEPTICS PRIOR TO RELEASING THE PLAT FOR RECORDING. THAT THE OPEN SPACE CONTAINED IN OUTLOTS A & B BE PERMANENTLY PROTECTED WITH A CONSERVATION EASEMENT AND RECORDED AT THE SAME TIME AS THE FINAL PLAT. THAT THE HOMEOWNERS ASSOCIATION DOCUMENTS INDICATE THAT THE OUTLOTS IN THE DEVELOPMENT ARE OWNED IN COMMON BY ALL RESIDENTS OF THE DEVELOPMENT. 10. THAT STREET LIGHTS BE INSTALLED AS REQUIRED BY ELK RIVER UTILITIES. 11. THAT A LETTER OF CREDIT IS PROVIDED TO THE CITY IN THE AMOUNT OF 100% OF THE COSTS OF PUBLIC IMPROVEMENTS. 12. UPON COMPLETING ALL OF THE IMPROVEMENTS AND HAVING THEM ACCEPTED BY THE CITY, A WARRANTY BOND IN THE AMOUNT OF 25 % OF THE IMPROVEMENT COSTS SHALL BE SUBMITTED TO THE CITY FOR A ONE- YEAR PERIOD. 13. SURFACE WATER MANAGEMENT FEE IN THE AMOUNT REQUIRED BY THE CITY AT THE TIME OF FINAL PLAT BE PAID PRIOR TO RELEASING THE PLAT FOR RECORDING. 14. PARK DEDICATION FEE AND TRAIL FEE IN THE AMOUNT REQUIRED BY THE CITY AT THE TIME OF FINAL PLAT BE PAID PRIOR TO RELEASING THE PLAT FOR RECORDING. s:Xdocument\resolutiXresprese.doc Page 6