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18.50.130. Private subdivision; Development agreements
All developers of a private subdivision/development are required to enter into a written agreement. The agreement must be signed by the subdivider/developer and an authorized agent of the City. By its terms, the subdivider/developer shall agree to comply with the applicable provisions of Title 18 of the Layton Municipal Code. Such agreement shall, among other requirements, provide for the time of completion (not to exceed eighteen (18) months) and shall set forth the security arrangement between the subdivider/developer and the City for compliance with the private subdivision requirements for installation of improvements in the development. Such agreement shall incorporate by reference conditions and provisions of the Planning Commission and City Council. It shall be executed in duplicate originals, one (1) copy to go to the subdivider/developer and the other to be retained as part of the City records relating to private development.
The subdivider/developer along with an appropriate escrow holder shall also enter into a written three party escrow agreement. Said agreement shall outline the purpose of the escrow, the requirements of the City, the guarantee of improvements, the completion date, the amount of escrow, and the terms for release of the escrow funds. The escrow shall be executed in triplicate originals with one (1) copy going to the subdivider/developer, one (1) to the escrow holder, and one (1) to the City to be retained as part of the City records relating to the private subdivision/development.
Ord. No.97-35, Recodified, 6/19/1997
Ord. No. 1020, Amended, 5/5/1994