Water Extension Agreement - Private Extension of Public Water Main for N. Hill St. and St. Vincent St. – Patrick O’Brien Enterprises, LLC

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6. Capital Contribution The parties acknowledge that the division of two lots into three lots and the placement of residential structures on each parcel, including the newly created lot, requires one new connection to the City's water and sewer services, and, per the City's Municipal Code § 17-80, a system development charge is required for the new connection. The system development charge for a residential structure has been calculated as $1,620; however, the Owner's estimate of the cost of the Dedicated Improvement is $67,750. In consideration for the Owner's construction of the Dedicated Improvements and its performance of other obligations set forth in this Agreement, the City agrees not to charge or accept payment of the system development charge from the Owner, provided that the terms of this Agreement are satisfactorily and timely completed by the Owner, as determined by the City in its sole discretion. 7. Dedication Upon completion of the construction of the Dedicated Improvements substantially as depicted in Exhibit A, the Owner shall dedicate to the City the Dedicated Improvements as public infrastructure. The Owner shall use its best efforts to work with the City to ensure that the Dedicated Improvements are dedicated to the City in a timely manner. Additionally, prior to dedication, the following must be satisfied: a. All parts and labor must meet the standards and requirements stated in the design specifications as presented to and accepted by the City Engineering Department. b. Lien waivers must be received with regard to all workmanship and materials used in connection with these improvements. c. The Completion Affidavit must be furnished to Owner by the Board of Public Works.