Laserfiche WebLink
DRAFT <br /> total one hundred twenty-five (125) percent of all the improvements to <br /> be constructed and completed by the applicant pursuant to the <br /> approved PUD Final Plan, in which case each said bond required by <br /> such development agreement shall be filed along therewith within the <br /> period above-stated. It may also require guarantee bonds in the penal <br /> sum of one hundred (100) percent of the cost of completed <br /> improvements, as estimated by the City Engineer to guarantee such <br /> improvements for whatever lengths of time are specified therein. The <br /> release of any bond or any portion thereof shall either be governed by <br /> the terms and provisions of such develORM nt agreement or shall be <br /> based upon the recommendation of the Cary Engineer or City Planner <br /> and approval thereof by the City Coeil. <br /> 3. In the event the applicant has filed to............ <br /> tr into a development <br /> agreement and to file the corpqre surety bond with the administrator <br /> by the expiration of the sixth day period, the PUD� �errnit, Final Plat(if <br /> .,. <br /> any) and approved PUD^Fal Plan shall be deemedd�nullified and <br /> revoked unless an extensin is requested in writing b the applicant <br /> and for good cause granted by:.the Ci Council. <br /> E. Park and Ope#§pace Dedication i Wovenants. <br /> 1. To ensure that ay arl open spaec recreational areas, common <br /> areas and the like ghat are 'u �sed to.> owned and maintained by a <br /> homeowners' associatio� , bus�in nprovement district, or other <br /> association i s properly maintained for its approved use, the <br /> City Co cil may require that the applicant execute and grant to the <br /> City eas=ents and covenants over said areas within sixty (60) days <br /> ter the.Cty.:Council has rade such requirements. <br /> :. a. 2. I t event the applicant has failed to execute said open space <br /> asemet end covenants and to file the same with the administrator by <br /> . .. ............ <br /> expiration �said sixty-day period, the PUD Permit, Final Plat, if <br /> ar and Final Plan shall be deemed to be void, nullified and revoked <br /> ............. <br /> unl...ess an extension has been required in writing by the applicant and <br /> forpod cause granted by the City Council. <br /> DRAFT:5/20/2010 <br /> Page 22 of 22 <br />