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the Alpine Meadows Subdivision. Said maintenance guarantee shall consist of cash or a <br />Letter of Credit, approved as to form by the City., in the amount of four thousand one hundred <br />ten dollars and no cents ($4,110.00) [# plantings (45 trees; 184 shrubs) x cost/planting <br />($100/tree, $50/shrub x 30% average non-survival rate], which shall be in effect for a two- <br />year period commencing on the date.of the City's acceptance of said plantings as part of the <br />Required Improvements. ~ <br /> <br /> At the end of the two-year period, the maintenance guarantee shall be returned to the' <br /> Developer. The determination that all plantings that have been planted in accordance with <br /> the Site Plan have either survived or have been replaced shall be made by the City Engineer. <br /> In the event the Permittee fails to maintain the required plantings for a two-year period, the <br /> City Council may order the replacement of plantings with City day labor and/or by letting <br /> contracts and draw upon the escrow for payment. Only the City Council shall have the <br /> authority to direct replacement of the plantings and withdraw from the escrow account. The <br /> Permittee hereby grants permission and a libense to the City and/or its contractors and <br />· assigns to enter upon the Site for the purpose of replacing plantings in the event of the <br /> Permittee's default. <br /> <br />t4. <br /> <br />RECOGNITION OF LOCATION. The Permittee herein agrees to recognize Ramsey as <br />· the City of location for the development on all forms of advertising and business <br />correspondence. <br /> <br />15. <br /> <br />AGREEMENT BINDING ON HEIRS, ETC. The DEVELOPER agrees that this <br />Development Agreement shall be binding upon their successors and assigns. Breach of any <br />of the terms of this Development Agreement by the DEVELOPER shall be grounds for <br />denial of building permits for buildings in the Plat. <br /> <br />Eighty Seven LLC, hereby acknowledge receipt of this Permit and that they have reviewed the <br />conditions of this permit and have agreed that they will comply with the terms of this Permit. <br /> <br />Eighty Seven LLC <br /> <br />By: <br /> <br />Its: <br /> <br />STATE OF MINNESOTA <br /> <br />) <br />) ss <br /> <br />Alpine Meadows Development Permit <br /> Page 3 of 5 <br /> <br />-219- <br /> <br /> <br />