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<br />PARK DEDICATION <br />WEXFORD HEIGHTS <br />The Park Dedication requirements for the residential <br />plat known as Wexford Heights shall be defined as follows: <br />1. Silver Lake Associates Limited Partnership <br />(owner) shall dedicate 5.36 acres to the City <br />of New Brighton at the time of the first phase <br />Final Plat approval by the New Brighton City <br />Council (as shown on the Wexford Heights plat). <br />2. The City shall allow a credit for the land <br />dedicated in Item #1 of 2.7 acres, which shall <br />be credited against the total dedication <br />requirement of 5.48 acres. The balance of the <br />dedication shall be paid in cash according to <br />the following formula: <br />Total acres (54.8) X 10~ = 5.4.8 acres <br />Less: Land Dedication Credit 2.70 aczes {49.3~s} <br />Balance of Required Dedication -2.78. acres {50.7} <br />Total Lots (l12) X $750.00 per lot = $84,000 <br />Multiplied by $age of Balance of <br />required dedication 5 <br />Amount of cash dedication $42,588 <br />3. The cash payment shall be paid prorata based on <br />the number of lots in the final plat and shall. <br />be due at the' time of application for the first <br />occupancy permit (excluding the first five <br />.model homes). <br />First Phase Final Plat = 50 Lots <br />SO Lots X $750.00 per Lot = $37,500 <br />$37,500 X 50.7 w $19,012.50 Due <br />4. An eight foot wide bituminous pathway shall be <br />installed in Outlat A (Park) as part of the City <br />contract £or first phase utilities and streets. <br />The amount paid for the pathway shall be <br />deducted from the first phase cash dedication <br />and assessed against the first phase lots. <br />