Agenda - Council - 07/25/1995 - Laserfiche WebLink

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b) the landscaping maintenance guarantee has been provided in accordance with Item #12 of this Development Permit.. IMPROVEMENT CONSTRUCTION SCHEDULE. The Required Improvements shall be completed before July 25, 1996. ESCROW FOR REQUIRED IMPROVEMENTS. In order to insure the installation of the Required Improvements in accordance with City specifications and in a timely _manner, the Permittee shall be required to deposit with the City a cash escrow or letter of credit, approved as to form by the City, in the amount of Twelve Thousand Nine Hundred Dollars and no cents ($12,900.00), which is 150% of the City's estimated cost of the Improvements. Prior to the issuance of the building permit, all financial guarantees must be 'provided as required herein. Upon completion of the construction of the Required Improvements, the financial guarantee shall be returned to the Pcrmittee and thc Permittee shall be required to provide the landscaping rnaJntenance guarantee described in Item #12 of this Development Permit. The determination of completion of the construction of the Required Improvements shall be made by the City Engineer. In the event the Permittee fails to construct and install the Required Improvements as required herein, the City Council may order the completion of the Required Improvements with City day labor and/or by letting contracts for said completion and draw upon the escrow for payment. Only the City Council shall have the authority to direct completion of the Required Improvements and withdraw from the escrow account. The Permittee hereby grants permission and a license to the City and/or its contractors and assigns to enter upon the Site for the purpose of completing the construction and installation of the Required Improvements in the event of the Permittee's default. MAINTENANCE GUARANTEE FOR LANDSCAPING. It is herein agreed that the Permittee shall provide a maintenance guarantee to ensure the survival of the plantings. Said maintenance guarantee shall consist of cash or a letter of credit, approved as to form by the City, in the amount of Dollars ($. .) (# of replacement and new plantings x $100/tree x 30% average non-survival rate), which shall be in effect for a two year period commencing on the date of the City's acceptance of said plantings as part of the Required Improvements.. At the end of the two year period, the maintenance guarantee shall be returned to the Permittee. The determination that all plantings that have been planted in accordance with the Site Plan have either survived or have been replaced shall be made by the City Engineer. In the event the Permittee fails to maintain the required plantings for a two year period, the City Council may order the replacement of plantings with City day labor and/or by letting contracts and draw upon the escrow for payment. Only the City Council shall have the authority to direct replacement of the plantings and withdraw from the escrow account. The Permittee hereby grants permission and a license to the City and/or its contractors and assigns to enter upon the Site for the purpose of replacing plantings in the event of the Permittee's default~ RECOGNITION OF LOCATION. The Permittee herein agrees to recognize Ramsey as the City of location for the facility on ail forms of advertising and business correspondence. I I ! I i I I I I I I I I I I I