Mt. Sunrise Ph 1 Developers AgreementDEVELOPER AGREEMENT
Mt. Sunrise Phase I
This Agreement is made pursuant to the provisions of Sections 16.20.030 and 16.20.040
of the Yelm Municipal Code for the purpose of bonding in lieu of completion of required
improvements and repairs described in Exhibit A attached hereto and made a part hereof. The
undersigned does deposit in trust with the City of Yelm $5,250.00 (150 percent of actual cost of
replacement) and grants the City the full power and authority to hold and expend the deposited
amount for the purpose of completing the required improvements and repairs described in said
Agreement not completed by September 29, 2007, 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 $5,250.00 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 16.20.030 of the Yelm Municipal Code and the provisions of said attached Exhibit.
DATED this 2"d day of August, 2007
DEVELOPER
EXHIBIT A
Mt. Sunrise Phase I
Required Improvement
Replacement of Landscaping
Cost Estimate
$5,250.00 (Based on 150%
of actual cost of replacement)
Replacement of trees required as part of the Type V (Stormwater retention/detention areas)
landscaping as required for the Mt. Sunrise Phase I Subdivision.
The owner/developer of any project requiring site plan review approval, subdivision approval, or
short subdivision approval shall provide a performance assurance device in order to provide for
maintenance of the required landscaping until the required landscaping has been completed.