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The first phase of this development will consist of one block containing 14 single-family <br /> homes and supporting infrastructure. The remainder of the platted land will be contained in a <br /> single "Outlot A"reserved for future development. <br /> Future phases of this development will consist of at least 18 single-family homes and <br /> supporting infrastructure. At such time as the second phase of development, the Developer shall <br /> resolve to either develop or perpetually maintain all lands on the Plat. <br /> 2. CONDITIONS OF PLAT AND DEVELOPMENT APPROVAL. This <br /> Agreement serves as the master agreement for the development of the Old Mill Estates Final <br /> Plat. The Final Plat will be developed in accordance with the development plans in successive <br /> phases of development. Successive version of the Final Plat shall be approved by the City <br /> corresponding to each phase of the development. The first phase shall be developed pursuant to <br /> Final Plat, Phase One. <br /> At such time as the City approves a phase of the Final Plat and the Development Plans <br /> for all phases of development, and the Developer receives the Right to Proceed as set forth <br /> below, the Developer may record the Plat with the County Recorder or Registrar of Titles within <br /> one hundred (100) days after approval of the Plat. If the Plat and any associated easements or <br /> covenants are not recorded within the one hundred (100) days, the approval of the Plat is void, <br /> unless a written request for an extension is submitted to the City Administrator before the one <br /> hundred (100) days expire. The extension will be approved or denied by the City Council by <br /> placement on their agenda within fifteen (15) days of request for same. Such Plat shall contain <br /> all easements required for the construction and maintenance of improvements for the <br /> development. <br /> VERSION FOR COUNCIL 05/22/2019 Page 3 <br />