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Effective January 17, 1984 1988 PCLICY STATEMU Cal PARK FEES CN LAND SUBDIVIS ION Date In determining fair market value of public areas for land subdivision for cash payment as required by Ordinance 4,633, the following values will be used: Residential Subdivision $1,500.00 per lot Residential Lot Split $ 750.00 per lot Commercial/Industrial Subdivision or Lot Split $ 0.023 per sq. ft. This fee is to be paid at the time of final plat or lot split approval. The City Comcil may defer collection to the time a building permit is requested f or individual lots created by such subdivision/lot split. The City retains the option to accept an equivalent amount in cash from the applicant ror part or all of the portion required to be dedicated. PARR FEE ACHE The undersigned understands that according to the City Platting Ordinance, the fallowing public park land dedication is required to plat residential, omirnercial or industrial zoned property. it is further understood that the public park land dedication or cash payment equivalent is at the discretion of the City. It is agreed that a cash payment of $ will be paid according to the above stated policy for the following subdivision/lot split. It is agreed that the following land dedication is provided according to the above stated policy for the following subdivision/lat split: tedi cats on : Subdivision/Lot Split: The undersigned f urther agrees to notify all future property owners or assigns of the cash payment requirement, if it is to be collected at the time of issuance of a building permit. Date: (Property Owner Signature)