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<br />187184v1 11 <br /> E. The Developer must obtain a sign permit from the City prior to installation of any <br />signs for the development. <br /> F. Prior to recording of this Agreement with Ramsey County and the conveyance of <br />the Subject Property from Arden Hills Senior Living, LLC to Developer, (i) Developer shall cause Arden <br />Hills Senior Living, LLC to provide a Quit Claim Deed for Outlot A, Arden Hills Senior Living, Ramsey <br />County, Minnesota, to the City of Arden Hills, and (ii) the City of Arden Hills shall deliver a Quit Claim <br />Deed for Lot 1, Block 1, Arden Hills Senior Living, Ramsey County, Minnesota, to Arden Hills Senior <br />Living, LLC . <br /> 30. SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the <br />terms of this Agreement, payment of the costs of all improvements, and construction of all public and <br />private improvements, the Developer shall furnish the City with a letter of credit, in the form attached <br />hereto, from a bank (“security”) for $334,107.50. The amount of the security includes all of the security <br />requirements set forth in the preceding sections of this Agreement, and was calculated as follows: <br />CONSTRUCTION COSTS: <br />Storm Sewer/Drain tile $10,955.00 <br />Erosion Control/Grading Certification $7,073.00 <br />Streets $52,450.00 <br />Sidewalk/Trail $15,336.00 <br />Park Improvements $178,611.65 <br /> CONSTRUCTION SUB-TOTAL $264,425.00 <br />OTHER COSTS: <br />Lot Corners/Iron Monuments $2,861.00 <br />OTHER COSTS SUB-TOTAL $ 2,861.00 <br /> <br />TOTAL SECURITIES: $267,286.65 <br />GRAND TOTAL SECURITIES (125%) $334,107.50 <br />This breakdown is for historical reference; it is not a restriction on the use of the security. The bank shall be <br />subject to the approval of the City Administrator. The security shall be for a term ending November 30,