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Upon completion of the construction of the Required Improvements, the financial guarantee shall be <br />returned to the Permittee and the Permittee shall be required to provide the landscaping <br />maintenance guarantee described in Item #14 of this Development Agreement. The determination <br />of completion of the construction of the Required Improvements shall be made by the City Council <br />after consultation with the City Engineer. In the event the Permittee fails to construct and install <br />the Required Improvements as required herein, the City Council may order the completion of the <br />Required Improvements with City day labor and /or by letting contracts for said completion and <br />draw upon the escrow for payment. Only the City Council shall have the authority to direct <br />completion of the Required Improvements and withdraw from the escrow account. The Permittee <br />hereby grants permission and a license to the City and/or its contractors and assigns to enter upon <br />the Site for the purpose of completing the construction and installation of the Required <br />Improvements in the event of the Permittee's default. <br />10. Inspection Fees. The Permittee shall be responsible for all inspection costs incurred by the City <br />related to the installation of Required Improvements. The Permittee shall make a cash deposit into <br />the appropriate escrow account at the City and the City shall have the authority to draw upon these <br />funds for the purpose of compensating for inspection services. The amount of the deposit shall be <br />equal to five percent (5 %) of the estimated cost of the Required Improvements, which equates to <br />Dollars and No Cents ($ .00) (5% x $ . 00). Upon completion of <br />the Improvements to the satisfaction of the City, any surplus balance remaining in the City's escrow <br />account shall be refunded to the Permittee. <br />Ramsey Medical Building <br />Development Permit <br />Page 3 of 6 <br />