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City of Arden Hi11s Chapter 13 Zc►ning Code <br />The development agreerr�ent may provide fox several bonds eovering separate <br />aspects of the PUD, the aggregate of which shall tatal one hundred twenty- <br />five (] 25} percent of all the improvements to be constructed and co�npletec� by <br />the permittee pursuar�t to the approved Final Plan, in which case each said <br />bond required by such developnraent agreezaaent shail be filed a�ong therewith <br />wi�hin the period above-stated_ It may also require guarantee bonds itz the <br />penal sum of one hundred (100) percent of the cost of compieted <br />improvements, as estimated by the City Engineer to g�arantee such <br />improve�nents for whatever �engths af time are specified therein. The release <br />of any bond or any portion thereof shall either be gaverned by the terms and <br />provisions of such development agreement or shall be based �pon the <br />recommendat�on of the City Engineer or City Planner and approval t�Zereof by <br />the City Co�ncil. <br />C. Open Space Easements and Covenants. To assure the City of the <br />continued rraaintenance of any open space, recreational areas, cornmon areas <br />and the tike which are proposed to �e owned and maintained by a <br />homeowners' association to be formec3 by the permittee [and that sazd areas] <br />will not be devoted to purposes other than those for which t�ey were <br />originally intended, tlae City Cour�cil may require at the time of its approval of <br />the FinaI Plan or iis approval of any final plat required thereby, whichever is <br />later, t�at the permittee execute and grar�t to tl�e city ope� space e�sements <br />and covenants, approved by the C�ty Cauncil at the time such requirement is <br />made, which shall be filed by the permittee wi�in thirty {30} days after the <br />Gity Council �Zas �nade such requiremen�s. In the event the perrr►ittee has <br />failed to Execute said open space easements and covenants and to file the <br />same with the administrator by the expiration of said thirty-day period, the <br />PUD PermiE, Final Plat, if any and Final Plan shalI be deemed to be void, <br />n�llified and re�oked unless an extension has been required in writing by the <br />perrr►ittee and for good cause granted by the City Council. <br />Section ] 320 — District Provisions <br />Adopted: November 13, 2006 <br />T'age 42 of 42 <br />