Common use of SUMMARY OF SECURITY REQUIREMENTS Clause in Contracts

SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the terms of this contract, payment of special assessments, payment of the costs of all public and private improvements, and construction of all public and private improvements, the Developer shall furnish the City with a letter of credit, in a format acceptable to the City, from a bank, cash escrow or a combination cash escrow and letter of credit ("security") for $2,116,044. The amount of the security was calculated as follows: ESTIMATED COSTS ITEM Developer- Installed (1) Private (2) Total Street Construction $450,700 $450,700 Turn Lane Construction 94,400 94,400 Sanitary Sewer System 235,700 235,700 Watermain System 331,900 331,900 Storm Sewer System 176,800 4,300 181,100 Boulevard and Drainage Swale Sod 13,100 13,100 Street and Traffic Control Signs 2,500 2,500 Wetland Buffer Posts & Signs ($100 per buffer post) 2,700 2,700 Sidewalk Improvements 75,400 75,400 Trail Improvements 21,200 21,200 CR 101 Trail Improvements 202,000 202,000 Landscaping 15,000 15,000 Street Lighting 5,000 5,000 Site Grading & Drainage Improvements 277,000 277,000 Erosion Control 34,800 34,800 Setting Iron Monuments ($100 per iron) 16,800 16,800 Sub-Total 1,491,500 467,800 1,959,300 Design, Admin. Insp, As-builts (8%) 119,320 37,424 156,744 TOTAL ESTIMATED COST: 1,610,820 505,224 2,116,044

SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the terms of this contract, payment of special assessments, payment of the costs of all public and private improvements, and construction of all public and private improvements, the Developer shall furnish the City with a letter of credit, in a format acceptable to the City, from a bank, cash escrow or a combination cash escrow and letter of credit ("security") for $2,116,044573,372. The amount of the security was calculated as follows: ESTIMATED COSTS ITEM Developer- Developer Installed (1) Private (2) Total – 12 – Street Construction $450,700 125,300 $450,700 Turn Lane Construction 94,400 94,400 125,300 Sanitary Sewer System 235,700 235,700 $108,500 $108,500 Watermain System 331,900 331,900 $81,500 $81,500 Storm Sewer System 176,800 4,300 181,100 $46,400 $46,400 Boulevard and Drainage Swale Sod 13,100 13,100 $22,400 $22,400 Retaining Walls $21,200 $21,200 Street and Traffic Control Signs 2,500 2,500 Wetland Buffer $700 $700 Buffer/Park Posts & Signs ($100 per buffer post) 2,700 2,700 $1,100 $1,100 Sidewalk Improvements 75,400 75,400 Trail Improvements 21,200 21,200 CR 101 Trail Improvements 202,000 202,000 $31,600 $31,600 Landscaping 15,000 15,000 $22,400 $22,400 Street Lighting 5,000 5,000 $4,000 $4,000 Erosion control $4,200 $4,200 Site Grading & Drainage Improvements 277,000 277,000 Erosion Control 34,800 34,800 $52,400 $52,400 Setting Iron Monuments ($100 per iron) 16,800 16,800 $9,200 $9,200 Sub-Total 1,491,500 467,800 1,959,300 $384,800 $146,100 $530,900 Design, Admin. Insp, As-builts (8%) 119,320 37,424 156,744 $30,784 $11,688 $42,472 TOTAL ESTIMATED COST: 1,610,820 505,224 2,116,044COST $415,584 $157,788 $573,372

SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the terms of this contract, payment of special assessments, payment of the costs of all public and private improvements, and construction of all public and private improvements, the Developer shall furnish the City with a letter of credit, in a format acceptable to the City, from a bank, cash escrow or a combination cash escrow and letter of credit ("security") for $2,116,044$ 1,055,747.52. The amount of the security was calculated as follows: ESTIMATED COSTS ITEM Developer- Developer Installed (1) Private (2) Total Street Construction $450,700 91,281.50 $450,700 Turn Lane 91,281.50 Xxxx Xxxx Construction 94,400 94,400 (5) $158,172.50 $158,172.50 Sanitary Sewer System 235,700 235,700 $134,945.00 $134,945.00 Watermain System 331,900 331,900 $141,400.00 $141,400.00 Storm Sewer System 176,800 4,300 181,100 $125,720.00 $125,720.00 Boulevard and Drainage Swale Sod 13,100 13,100 $10,000.00 $10,000.00 Pond Construction $10,635.00 $10,635.00 Filtration Basin $10,635.00 $10,635.00 Street and Traffic Control Signs 2,500 2,500 Wetland Buffer Posts & Signs ($100 per buffer post) 2,700 2,700 1,250.00 $1,250.00 Sidewalk Improvements 75,400 75,400 $16,200.00 $16,200.00 Trail Improvements 21,200 21,200 CR 101 Trail Improvements 202,000 202,000 $12,200.00 $12,200.00 Landscaping 15,000 15,000 $14,350.00 $14,350.00 Street Lighting 5,000 5,000 $1,000.00 $1,000.00 Erosion control $18,802.50 $18,802.50 $37,605.00 Site Grading & Drainage Improvements 277,000 277,000 Erosion Control 34,800 34,800 $94,575.00 $94,575.00 $189,150.00 Setting Iron Monuments ($100 per iron) 16,800 16,800 $3,000.00 $3,000.00 Tree preservation (3) $10,000.00 $10,000.00 Wetland Mitigation (money held until completion of required monitoring reports). (4) $10,000.00 $10,000.00 Sub-Total 1,491,500 467,800 1,959,300 $809,616.50 $167,927.50 $977,544.00 Design, Admin. Insp, As-builts (8%8%t) 119,320 37,424 156,744 $64,769.32 $13,434.20 $78,203.52 TOTAL ESTIMATED COST: 1,610,820 505,224 2,116,044COST $874,385.82 $181,361.70 $1,055,747.52

SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the terms of this contract, payment of special assessments, payment of the costs of all public and private improvements, and construction of all public and private improvements, the Developer shall furnish the City with a letter of credit, in a format acceptable to the City, from a bank, cash escrow or a combination cash escrow and letter of credit ("security") for $2,116,044906,930. The amount of the security was calculated as follows: ESTIMATED COSTS ITEM Developer- Developer Installed (1) Private (2) Total Street Construction $450,700 90,300 $450,700 Turn Lane Construction 94,400 94,400 90,300 Sanitary Sewer System 235,700 235,700 $242,000 $242,000 Watermain System 331,900 331,900 $109,000 $109,000 Storm Sewer System 176,800 4,300 181,100 $269,000 $2,500 $271,500 Boulevard and Drainage Swale Sod 13,100 13,100 $5,800 $5,800 Filtration Basin (Adjusted for phase 1 Basin LOC overage) $39,700 $39,700 Retaining Walls $4,200 $4,200 Street and Traffic Control Signs 2,500 2,500 Wetland Buffer $2,200 $2,200 Buffer/Park Posts & Signs ($100 per buffer post) 2,700 $2,700 Sidewalk Improvements 75,400 75,400 Trail Improvements 21,200 21,200 CR 101 Trail Improvements 202,000 202,000 $22,500 $22,500 Landscaping 15,000 15,000 $5,000 $5,000 Street Lighting 5,000 5,000 $4,000 $4,000 Erosion control ($40,350) $6,200 $6,200 Site Grading & Drainage Improvements 277,000 277,000 Erosion Control 34,800 34,800 $30,250 $30,250 Setting Iron Monuments ($100 per iron) 16,800 16,800 4,400 $4,400 Sub-Total 1,491,500 467,800 1,959,300 $752,200 $87,550 $839,750 Design, Admin. Insp, As-builts (8%) 119,320 37,424 156,744 $60,176 $7,004 $67,180 TOTAL ESTIMATED COST: 1,610,820 505,224 2,116,044COST $812,376 $94,554 $906,930

SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the terms of this contract, payment of special assessments, payment of the costs of all public and private improvements, and construction of all public and private improvements, the Developer shall furnish the City with a letter of credit, in a format acceptable to the City, from a bank, cash escrow or a combination cash escrow and letter of credit ("security") for $2,116,0441,968,948. The amount of the security was calculated as follows: ESTIMATED COSTS ITEM Developer- Developer Installed (1) Private (2) Total Street Construction $450,700 369,400 - $450,700 369,400 Turn Lane Construction 94,400 94,400 $75,200 - $75,200 Sanitary Sewer System 235,700 235,700 $241,600 - $241,600 Watermain System 331,900 331,900 $196,600 - $196,600 Storm Sewer System 176,800 4,300 181,100 $166,300 $85,200 $251,500 Boulevard and Drainage Swale Sod 13,100 13,100 - $7,800 $7,800 Filtration Basin $58,500 - $58,500 Retaining Walls - $297,000 $297,000 Street and Traffic Control Signs 2,500 2,500 Wetland Buffer Posts & Signs ($100 per buffer post) 2,700 2,700 8,200 $8,200 Sidewalk Improvements 75,400 75,400 $19,200 $19,200 Trail Improvements 21,200 21,200 CR 101 Trail Improvements 202,000 202,000 $13,400 - $13,400 Landscaping 15,000 15,000 - $54,200 $54,200 Street Lighting 5,000 5,000 - $10,000 $10,000 Erosion control (3) - $8,400 $8,400 Site Grading & Drainage Improvements 277,000 277,000 Erosion Control 34,800 34,800 - $194,000 $194,000 Setting Iron Monuments ($100 per iron) 16,800 16,800 - $15,500 $15,500 Tree preservation (3) - $2,600 $2,600 Sub-Total 1,491,500 467,800 1,959,300 $1,129,200 $693,900 $1,823,100 Design, Admin. Insp, As-builts (8%) 119,320 37,424 156,744 $90,336 $55,512 $145,848 TOTAL ESTIMATED COST: 1,610,820 505,224 2,116,044COST $1,219,536 $749,412 $1,968,948

SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the terms of this contract, payment of special assessments, payment of the costs of all public and private improvements, and construction of all public and private improvements, the Developer shall furnish the City with a letter of credit, in a format acceptable to the City, from a bank, cash escrow or a combination cash escrow and letter of credit ("security") for $2,116,0442,334,096. The amount of the security was calculated as follows: ESTIMATED COSTS ITEM Developer- Installed (1) Private (2) Total Street Construction $450,700 465,600 $450,700 Turn Lane Construction 94,400 94,400 465,600 Sanitary Sewer System 235,700 235,700 $287,400 $287,400 Watermain System 331,900 331,900 $385,000 $385,000 Storm Sewer System 176,800 4,300 181,100 $296,400 $296,400 Boulevard and Drainage Swale Sod 13,100 13,100 $10,000 $10,000 Retaining Walls $11,900 $11,900 Pond Construction $15,800 $15,800 Infiltration Basin $35,600 $35,600 Street and Traffic Control Signs 2,500 2,500 $1,700 $1,700 Wetland Buffer Posts & Signs ($100 per buffer post) 2,700 2,700 $2,400 $2,400 Sidewalk Improvements 75,400 75,400 $62,000 $62,000 Trail Improvements 21,200 21,200 CR 101 Trail Improvements 202,000 202,000 $38,800 $38,800 Landscaping $15,000 $15,000 Street Lighting $5,000 $5,000 Site Grading & Drainage Improvements 277,000 277,000 Erosion Control 34,800 34,800 $510,300 $510,300 Setting Iron Monuments ($100 per iron) 16,800 16,800 $18,300 $18,300 Sub-Total 1,491,500 467,800 1,959,300 $1,434,400 $726,800 $2,161,200 Design, Admin. Insp, As-builts (8%) 119,320 37,424 156,744 $114,752 $58,144 $172,896 TOTAL ESTIMATED COST: 1,610,820 505,224 2,116,044$1,549,152 $784,944 $2,334,096