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<br />. <br /> <br />- <br /> <br />Ordinance 95- 2081 <br />Page 4 of 4 <br /> <br />(1) Payment from applicant to City of the sum of $168,785, in certified funds, on <br /> <br />or before January 15, 1996, as consideration hereunder. <br /> <br />The cash <br /> <br />consideration shall be subject to future adjustment, based on final review of <br /> <br />utility plans submitted by applicant to City. Any such adjustment, deficit or <br /> <br />credit, shall be refunded by City or paid by applicant, upon execution of the <br /> <br />Utility Extension Agreement. <br /> <br />(2) Execution of the Utility Extension Agreement provided for in Section 2 hereof <br /> <br />on or before March 15, 1996. <br /> <br />No building permits shall be issued and no construction of public improvements within the <br /> <br />proposed subdivision shall commence until the above (2) conditions have been performed. <br /> <br />If the above (2) conditions have not been met within the time frame specified, this <br /> <br />ordinance sball be null and void. <br />PASSED AND APPROVED, this ---LLday of ~.1995. <br /> <br />BY <br /> <br /> <br />~d \ ~,~~ 0.J,. <br />city See tary \1r ' V <br />ED: <br />-tJ. <br /> <br /> <br /> <br />ACCEPTED AND AGREED: <br /> <br />J.A.C. Interests, Inc. <br />By: <br />(Applicant) <br />