Developer AgreementDEVELOPER AGREEMENT
Burnett Estates
This Agreement is made pursuant to the provisions of Section 17.80.090 of the Yelm
Municipal Code for the purposes of providing a performance assurance of required
improvements described in the Exhibit A attached hereto and made a part hereof. The
undersigned does deposit in trust with the City of Yelm 1 500.00 and grants the City the
full power and authority to hold and expend the deposited amount for the purpose of
completing implementing the required maintenance described in said Agreement not
completed by October 31, 2008, pursuant to said agreement.
It is understood and agreed that the City holds the certificate covering said account
in its possession and agrees to hold the sum of 1 500.00 until release or partial release of
this Agreement is received from the Community Development Department pursuant to the
terms of the attached Exhibit, or demand made by the Community Development
Department pursuant to Section 17.80.090(F) of the Yelm Municipal Code and the
provisions of said attached Exhibit.
DATED this 28th day of September, 2005
/~~,
OPER
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EXHIBIT A
Burnett Estates
Required Improvement
Performance Assurance
Cost Estimate
$1,500.00
Street trees and site landscaping are a required improvement for the Burnett Estates
subdivision. The owner/developer of any project requiring subdivision approval shall
provide a performance assurance device in order to provide for maintenance of the
required landscaping until the homeowners association becomes responsible for
landscaping maintenance.