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• • <br />Ordinance 9~- 2081 <br />Page 4 of 4 <br />(1) Payment from applicant to City of the sum of $168,785, in certified funds, on <br />or before January 15, 1996, as consideration hereunder. The cash <br />consideration shall be subject to future adjustment, based on final review of <br />utility plans submitted by applicant to City. Any such adjustment, deficit or <br />credit, shall be refunded by City or paid by applicant, upon execution of the <br />Utility Extension Agreement. <br />(2) Execution of the Utility Extension Agreement provided for in Section 2 hereof <br />on or before March 15, 1996. <br />No building permits shall be issued and no construction of public improvements within the <br />proposed subdivision shall commence until the above (2) conditions have been performed. <br />If the above (2) conditions have not been met within the time frame specified, this <br />ordinance shall be null and void. <br />PASSED AND APPROVED, this ~_ day of 1995. <br />CIT OF LA PORTE <br />BY <br />Orman L. Malone, Ma <br />ATT <br />-~ <br />0 <br />City Sec Lary <br />APP ED: ~, <br />L~l/ <br />City Attorney <br />ACCEPTED AND AGREED: <br />J.A.C. Interests, Inc. <br />Bv: <br />(Applicant} <br />