Trust FundDEVELOPER 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
DEVELOPER
EXHIBIT A
Burnett Estates
Required Improvement Cost Estimate
Performance Assurance $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.