12/13/2006 ZONING BOARD OF APPEALS Minutes

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settlement statement for the initial sale of each home ownership unit. The Applicant shall also provide the Board with an interim cost and revenue statement after the sale of the 72"c1 home-ownership unit. Based upon this interim cost and revenue statement, if it appears that the Applicant's ultimate dividend will exceed 20%, the Applicant shall escrow a sum with the Town, in the amount of 50% of the amount of the anticipated excess dividend. The escrowed sum shall be promptly returned to the Applicant if its dividend for the whole project does not actually exceed 20% of total development costs. 21. The Applicant is responsible for the preparation and execution of any document that may be required by DHCD in order to have all of rental units and all of the affordable home ownership units in the project included on the Town's Subsidized Housing Inventory. 22. Any change in the subsidy source shall be subject to the Board's review and approval under the provisions of 760 CMR 31.03, 23. The Applicant shall draft and submit any and all necessary association or, condominium documents that are necessary for the operation and maintenance of common areas and infrastructure. No occupancy permits may be granted until the Board's counsel reviews and approves any and all such association or condominium documents, such approval not to be unreasonably withheld. 24. The Applicant shall submit the management contract for the rental units. No occupancy permits shall be granted until the board approves such contract, in writing, such approval not to be unreasonably withheld. 25. As security for completion of the infrastructure shown on the Final Site Plans, including but not limited to the roadways, driveways, sidewalks, parking, stormwater management system, lighting, wastewater facilities, landscaping and utilities (collectively the "Infrastructure"), the release of occupancy permits for the buildings shall be subject to the following restrictions: a. No occupancy permit for a unit in any building shall be issued until: (I) the roadway, lane, driveway and parking area shown on the Final Site Plans for the subject building has been installed, excepting the final course of pavement for the roadways, drives and parking areas; and (2) all other Infrastructure as shown on the Final Site Plans for such building, as approved by the Board's engineer, has been constructed or installed so as to adequately serve said building. The occupancy permits for the final twelve market rate homeownership units shall be withheld until such time as the final course of pavement for the roadways, lanes and parking areas has been completed. b. In that the Plans reviewed by the Board were preliminary, no occupancy permits shall be issued until the Applicant complies with any other Mashpee Woods-final permit—6/12/08 10