Agenda - Council - 07/13/1999 - Laserfiche WebLink

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I I I I I I I I I® I I I I I I I I Said contract shall als~pr-ov~ reaffirm that the City will be reimbursed for all costs incurred by City ' ' the for ............ ~ ,~.~, ,- ..... ~ ^,;. ..........; ....... ,: ..... ;,h +~.~ ~-~ ......... ~ ..... ~ .................. v ............................... processing and administration of the application. The peffom~ce of said con~act shall be fin~cially sec~ed by a cash escrow deposit or other securiW ~ hereinafter set fo~h. In addition, ~e contract shall provide that the applicant agrees to pe~it the CiW to enter the site ~d complete ~y required improvements which the applic~t fails to complete. The con~act shall also provide that it is binding on all heirs, assigns, ~d successors of the applic~t. A copy of the contract shall be kept on file as pa~ of the pe~ent record of the site ~ ....... ~ ~ ...... ~ Ancka Czun~' Rezcrder's Offize. To ensure that the site is developed in accord with the approved plus ~d City specifications, the applic~t shall provide a cash escrow, ce~ificate of deposit, leRer of credit ~om m acceptable financial institution, ~perfo~ce bond, or pledge and payment. The fin~cial sec~iW shall be in an mo~t which equals 150% of the ~stimated construction cost of all required Ci~ improvements (as estimated by the CiW Engineer) ~ outlined in this chapter exclusive of the cost of the actual building(s) to be constructed on ~e site. The fin~cial sec~iW required herein may be used by the City to install or complete ~y of ~e Ci~'s required on-site improvements which in the event the applic~t fails to ~ do so. Upon request by the applicant, the CiW may release the financial securi~ in pa~ial payments on a pro rata basis as the various on-site improvements are completed to the satisfaction of the Ci~ Engineer. Upon final approval by the City Engineer ce~i~ing ~at all on-site improvements have been completed in accord~ce with the development a~eement ~d CiW st~d~ds, the remaining fin~cial sec~ity shall be released to the applic~t. a. Building .... ~ ~r+h~ ~,,n~; .... ~ ........ ~; ....... (Moved to 9 20 25 Subd. 5 ofyroyosed Chayter 9 revisions.) ~u ng .................. ~ tee State Eui!ding Code. (Delete~ already included in Chayter 8.) M.P.C.A. Regulations an Hazardous V/a~tez as adapted June I 8, 1979