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Improvement, the City shall take into consideration the <br />assessment of up to 5 percent of the cost of the TS Improvement <br />against other parcels located south of County Road E and beyond <br />the boundaries of the PUD Master plan that are benefited by <br />such improvement. If special assessments are utilized Arden <br />Plaza agrees that the property included within the PUD Master <br />Plan will receive a special benefit in the amount of 20 -25% of the <br />cost of the TS Improvement, as determined by the City Council, <br />as a result of the TS Improvement and hereby waives any public <br />hearing requirements contained in Minnesota Statutes Chapter <br />429 and further waives any right to appeal from a levy of such <br />special assessment. The provisions of this Section shall apply <br />even if the construction of the TS Improvement occurs prior to <br />the development of Phase III. <br />c. Arden Plaza shall prepare a Declaration of Covenants and <br />Restrictions ( "Covenants ") which shall include a notice of the <br />future special assessment for the TS Improvement and a formula <br />for portioning the cost of the special assessment of the parcels <br />included within the plat of Arden Plaza Redevelopment. In <br />adopting the special assessment roll for the TS Improvement, the <br />City shall comply with the formula contained in the Covenants. <br />B. Final Plat. <br />1. Arden Plaza shall submit an agreement for shared management and <br />maintenance of the parking areas, landscaping features, stormwater <br />facilities, and common areas. The agreement shall be subject to City <br />Attorney approval prior to the issuance of any building permits. <br />2. Arden Plaza shall file the Final Plat with Ramsey County within 18o days <br />of the approval from the City. <br />C. Development Contract -Phase 1. <br />1. Arden Plaza shall submit a financial surety in the amount of 125 percent <br />of the cost of the landscaping improvements for Phase 1 prior to the <br />issuance of any building permits. <br />2. At least three business days prior to any tree removal, the property <br />owner shall contact the City for a tree inventory inspection. <br />3. All building plans shall be subject to Fire Marshal approval prior to <br />issuance of building permits. <br />6 <br />