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Eagle Pass Development Agreement the "Street and Utility Improvements "), to include improvements as described by the plans, specifications, and contract documents entitled Eagle Pass Street and Utility Improvements, as prepared by the City Engineer, MSA Consulting Engineers, and as adopted and approved by the City Council of the City of Centerville. Said improvements shall be constructed and installed by the City to serve the Subdivision on the terms and conditions according to Ordinance #8, Section 38.01, and other improvements specific to the development herein set forth: 1. Street Construction The base course shall be completed before November 1, 1996. The wear course shall be completed before September 1, 1997, or when the City deems appropriate according to the progress of work on the individual lots. The Developer shall be liable for any increase in cost for construction of the wear course due to delays in construction on the individual lots. 2. Utility Oversizing The City and Developer agree that a portion of the sanitary sewer and watermain has been installed with sufficient capacity to accomodate future extensions to other areas of the City. The City shall pay the Developer for the costs above and beyond the sizes sufficient to accomodate the development or the minimum sizes indicated in Ordinance 48, whichever difference is less. 3. Construction Procedures All such improvements set out in Ordinance #8, Section 38.01, and as additionally specified herein shall be instituted, constructed, and financed as follows: a. The Developer shall provide to the City in writing an indication of the contractor selected by the Developer to construct and install the Street and Utility Improvements. The City shall reserve the right to determine if the contractor selected by the Developer is acceptable. The City reserves the right to require satisfactory proof of successful experience and adequate financial status by any such contractor. b. Construction shall not begin until written notice authorizing construction to start is received by the Developer from the City. C. Construction shall be completed to the standards and specifications described in the plans and specifications entitled Eagle Pass Street and Utility Improvements. d. The Developer shall provide a Disbursement Agreement as Security for the construction of the Street and Utility Improvements as referenced in paragraph B above, Street and Utility Improvements. e. As outlined in the Disbursement Agreement, the City shall give written notice to the Developer and the Lender whether the City approves or rejects the Street and Utilit Improvements through that particular stage of construction submitted for approval. 260/078l2106.aug Page 5