Agenda - Council - 09/23/2008 - Laserfiche WebLink

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Upon completion of the construction of the Required Improvements, the [mancial guarantee shall be returned to the Permittee and the Permittee shall be required to provide the -landscaping maintenance guarantee described in Item #14 of this Development Permit. The determination of completion of the construction of the Required Improvements shall be made by the City Council after consultation with the City Engineer. In. the. event the Permittee fails to construct and install the Required Improvements as required herein, the City Council may order the completion of the Required Improvements with City day labor and/or by letting contracts for said completion and draw upon the escrow for payment. Only the City Council shall have the authority to direct completion of the Required Improvements and withdraw from the escrow account. The Permittee hereby grants permission and a license to the City and/or Its contractors and assigns to enter upon the Site for the purpose of completing the construction and installation of the Required Improvements in the event of the Permittee's default. The surety amount is subject to change dependent on submittal of revised plans. 13. MAINTENANCE GUARANTEE FOR LANDSCAPING. It is herein agreed that the Permittee shall provide a maintenance guarantee to ensure the survival of the plantings. Said maintenance guarantee shall consist of cash or a letter of credit, approved as to form by the City, in the amount of Five Thousand Eight Hundred Ninety Five Dollars and no cents . ($5,895.00) [# plantings (52 trees, 54 shrubs) x cost/planting ($300/tree, $75/shrub) x 30% average non-survival rate], which shall be in effect for a two-year period commencing on the date of the City's acceptance of said plantings. as part of the Required Improvements. The maintenance guarantee amount is subject to change dependent on receipt of a revised landscaping plan. At the end of the two-year period, the maintenance guarantee shall be returned to the Permittee. The determination that all plantings that have been planted in accordance with the Site Plan and Landscaping Plan have either survived or have been replaced shall be made by the City Council after consultation with the City Engineer. In the event the Perniittee fails to maintain the required plantings for a two-year period, the City Council may order the replacement of - plantings with City day labor and/or by letting contracts and draw upon the escrow for payment. Only the City Council shall have the authority to direct replacement of the plantings and withdraw from the escrow account. The Permittee hereby grants permission and a license to the City and/or its' contractors and assigns to enter upon the Site for the purpose of replacing plantings in the event of the Permittee's default. 14. INSPECTION FEES. The Permittee shall be responsible for all inspection costs incurred by the City related to the installation of the Required Improvements. The Permittee shall make a cash deposit into the appropriate escrow account at the City and the City shall have the authority to draw upo:p. these funds for the purpose of compensating for inspection services. The amount of the deposit shall be equal to five percent (5%) of the estimated cost of the Required Improvements, which equates to Twenty Five Thousand Eight Hundred Dollars andrno cents ($25,800.00). This is to cover the cost of inspecting the site grading and installation of improvements. Upon completion of the Improvements to the satisfaction of the City, any' surplus balance remaining in the City's escrow account shall be refunded to the Permittee. -280-