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DEVELOPMEN~T AGREEME______~i DELLWOOD HILLS <br /> <br /> accordance w~th CITY standards and may be called upon at <br /> the CITY.s discretion during said 6ne (1) year period if <br /> the CITY deems it necessary to repair and/or replace any <br /> of the Stage I Improvements. Said financial guarantee <br /> shall be in the form of. a Letter of Credit, 'approved as <br /> to fo~ by the CITY. <br /> ~ 6. ~ecor~inq of .Contract. The DEVELOPER agrees that this <br /> Development Agreement Shall be recorded in the office of <br /> the Anoka County Recorder and agrees that the terms and <br /> provisions of this ~greement shall be a covenant on any <br /> and all deeds relative to the property included in the <br /> Plat. ' - <br /> <br /> ! ~. Violation of Contract. The DEVELOPER agrees that the <br /> terms 0f the financial guarantee shall be deemed to have <br /> been violated ~f the DEVELOPER fails to perform any of <br /> the terms of this Agreement in the manner required by the <br /> .CITY and the CITY shall be entitled to recover from the <br /> DEVELOPER or the issuer of DEVELOPER.S letter of credit, <br /> the full amount of the letter of credit. <br /> <br /> STAGE II IMPROVEMENTS.' <br /> ~ 8. Requirements after .S~reet. Sur~acinq. After the street <br /> surfacing is installed, the DEVELOPER shall clear any <br /> soil, earth, or debris from the streets and fr~m the lots <br /> within the.Plat resulting from any constrUction on the <br /> Subject Property by the DEVELOPER or its successors and <br /> assigns. The DEVELOPER, its successors or assigns agree <br /> to complete all finished grading and swales and ditches <br /> to the satisfaction of the City Engineer and to maintain <br /> said grading, swales and ditches until Certificates of <br /> Occupancy and septic system permits (if applicable)'are <br /> issued for all lots within the Plat. During this period <br /> the DEVELOPER shall prevent erosion by.wind and Water to <br /> the satisfaction of the city Engineer. <br /> <br />~ 9. Restoration.'' DEVELOPER shall restore all disturbed <br /> ~t-of-way areas, including ditches, grading, <br /> backslopes and establish turf by seeding of the ditch <br /> areas. Said restoration to include such additional items <br /> as the City Engineer may direct. . <br /> <br />i 10. s~reet/Traffic siqns and Seal Coat,hq. ' The CITY will <br /> install in the- plat, as' Stage II Improvements <br /> <br /> <br />