Trust FundDEVELOPER AGREEMENT
Mill Pond Estates
This Agreement is made pursuant to the provisions of Sections 16.20.030 and 16.20.040 of the Yelm Municipal Code for the purposes of bonding in lieu of completion of required improvements
and repairs 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 the required improvements and repairs described in said Agreement not completed by January 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
16.20.030 of the Yelm Municipal Code and the provisions of said attached Exhibit.
DATED this 26th day of January, 2005
DEVELOPER
EXHIBIT A
Mill Pond Estates
Required Improvement Cost Estimate
Street trees $1,500.00
Street trees are a required improvement for the Mill Pond Estates subdivision. The street trees planted are smaller in caliper than the development regulations require. The developer
agrees to maintain the trees for at least of 3 years to assure healthy growth and replacement as needed.