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Ordinanee 2010-010 <br />DRAFT. 6/2412010 <br />approved Pl�D F�n�l Plan. I� this case? each band req��red by �he <br />developme�t a�reement sha�l �e f�ed no �ater �han s�xty �6�) days <br />after PUD F�na� Plan approval. I� rr�ay also re��ire guara�tee ba�ds �n <br />the penal s�m af one hur�dred (� OQ) pereent of �he cost af e€�rnpleted <br />ir�prave��nen�s. as est��nated by �he City Eng�neer �o �uar�.ntee such <br />improvements for whatever le�gths af time are speE�f ed t�ereln. �'he <br />release af any bond or any par�ian �hereaf s�1aII either �e gover�ee� by <br />the terms and prov�sions of �he �evelapment agr�ement or sha�I be <br />based upon the recor�rne�dat�on of �he City Eng�neer or C�ty P�anner <br />and approval by the City Counci�. <br />3. If �he app�icant fa��s to enter �nto a c�evelopment agreement ar�d io <br />f le the corparate sure�y �o�d wi�h the adminls�rator �y t�e expiratian <br />of t�e sixty day periad, the PUD Permit, F�na� Pla� �if any} and <br />approved PUD Final Plan s�a�1 �e deemed vold, r�ul�if ed and revoked <br />unless an extension �s re�uested ir� writ�n� by the appl�can� and for <br />good cause granted �y the City Councrl. <br />E. Park and 4pen Space Dedicat�on and �ovenants. <br />1. �o ensure that any park, open space, recreational areas, commQn <br />areas and the like that are propo�ed to �e owned and maintained by a <br />ho��eowners' assoctation, business improvemer�t dtstrTet, or other <br />s����lar association are praperly r�aintained for their �pproved uses, the <br />City Counc�l m�y requi��e t�at the applicant execute and gra�t ta the <br />C�ty easer�er�ts and covenants aver sue� areas within sixty �60} days <br />after the C�ty Counci� l�as r�ade such requirements. <br />2. 1 f the appl icant fai 1 s to execute the apen space easements and <br />cove�ants and to fiie the same �v�th the admin�stratar by the exp�ration <br />o� the sixty (60) day period, the PUI� Permit, Final Plat, �f any and <br />Final Plan sha�l be deemed to be va�d, nu�li�ied and r�voked un�ess an <br />extenslon has been req��red in writing by the appl�cant and for goad <br />cause gran�ed by the City Counc�I. <br />Page 48 of 43 <br />