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The improvements shall be installed in accordance with City standards, ordinances, and the plans and specifications which have been prepared by a competent registered professional engineer furnished to the CITY and approved by the City Engineer. The DEVELOPER shall obtain all necessary permits from the Minnesota Pollution Control Agency (MPCA), Minnesota Department of Health (MDOH), and other agencies before proceeding with construction. The DEVELOPER shall provide field inspection to ensure an acceptable level of quality control to the extent that the DEVELOPER's engineer will be able to certify that the construction work meets the approved city standards as a condition of CITY acceptance. The DEVELOPER or his engineer shall schedule a preconstruction meeting at a mutually agreeable time at City Hall with all the parties concerned, including City staff, to review the program for the construction work. Within thii�ty (30) days after the completion of the improvements and before the security is released, the DEVELOPER shall supply the CITY with a complete set of reproducible "Record Plan" drawings. In addition to reproducible hard copies, these "record plans" shall be provided as a compatible AutoCAD digital file. The locations and elevations of sewer and water services shall be accurately shown on these record plans. �. Securi . To guarantee compliance with the terms of this Agreement, payment of the costs of all public improvements and construction of all public improvements, the DEVELOPER shall furnish ar� irrevocable letter of credit for $393,1�3.95 in a form to be approved by the CITY. The amount of the letter of credit is 125% of the engineer's estimated cost to constsuct the following improvements: Sanitary Sewer Sanitary Sewer Services Water Main Water Services Storm sewer Street construction Street signs Survey monuments, erosion control, landscape and restoration S. Time of Performance. The DEVELOPER shall install all required improvements enumerated in Paragraph 7 which will serve the plat by September 15, 2006. Wear course of asphalt and all landscape and restoration shall be installed by July 15, 2007. The DEVELOPER may, however, forward a request for an extension of time to the CITY. If an extension is granted, it shall be conditioned upon updating the security posted by the DEVELOPER to reflect cost increases and the extended completion date. �. Gradin� Pla�/S�te Grading. The DEVELOPER shall submit to the CITY a site grading and drainage plan for the entire plat acceptable to the CITY showing the grades and drainage for each lot prior to installation of the improvements. Site grading shall be completed by the DEVELOPER at its cost and approved by the City Engineer. The DEVELOPER shall furnish the City Engineer satisfactory proof of payment for the site grading work and shall submit a certificate of survey (as- constructed survey) of the development to the CITY after site grading, with street and lot grades. All improvements to the lots and the final grading shall comply with the grading plan as submitted and shall be the responsibility of the DEVELOPER. Page 3 of 9