Agenda - Planning Commission - 01/05/1999

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that it is binding on all heirs, assigns, and successors of the applicant. A copy of the contract shall be kept on file as part of the permanent record of the site and a ea_~:,' shall be retarded at the To ensure that the site is developed in accord with the approved plans and City specifications, the applicant shall provide a cash escrow, certificate of deposit, letter of credit from an acceptable financial institution, or-performance bond, or pledge and payment. The financial security shall be in an amount which equals 150% of the gestimated construction cost of all required City improvements (as estimated by the City Engineer) as outlined in this chapter exclusive of the cost of the actual building(s) to be constructed on the site. The financial security required herein may be used by the City to install or complete any of the City's required on-site improvements which in the event the applicant fails to oompl~ do so. Upon request by the applicant, the City may release the financial security in partial payments on a pro rata basis as the various on-site improvements are completed to the satisfaction of the City Engineer. Upon final approval by the City Engineer certifying that all on-site improvements have been. completed in accordance with the development agreement and City standards, the remaining financial security shall be released to the applicant. Subd. a.. Standards. Standards far al! business mhd industria!~istricts shah ~0 ay ............... c a er ~ ess spec e ............................ e ete material ~,+h=. +~, .... +~1 ~,., .+ ~oo+ 500,5 0£ the exposed ,;.,all of bbs 5ui!ding ~d.~_.,-~,~,, ..... a: ....... _.~.o. (Moved to 9.20.25, Subd. 5 oftgro2osed ChaRter 9 revisions.) · ~=i!ding Cade. Al! 5si!dings zka!! 5e canstraetsd a£ nancambus, tib!e material ~,.a shall t the State Bnilding Cads. (Deleted, already included in Chapter 8.) 5. Wastes: Ail sa!id waste material -~ refuse shall 5s stared within a