Agenda - Council - 11/28/1995 - Laserfiche WebLink

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56 Draft 11/24/95 ARTICLE IV CONSTRUCTION OF SITE IMPROVEMENTS Section 4.1. Construct]on of Sitelmprovements. The City shall construct the following Site Improvements for the Development Property in conformance with the requirements of the Developer to ~fil the provisions of the Development Permit (Exhibit C). (a) Thc extension of sanitary sewer and municipal water service to the site. (b) The completion of an administrative subdivision of the property. Such construction shall commence only after the Developer and the City have executed a license agreement for the Development Property in the form attached as Exhibit G. The license agreement shall permit the City to enter the Development Property and consmact the Site Improvements. The license agreement shall provide that the City will carry public liability insurance in an amount sufficient to protect the City and Developer from any claims arising out of activities by the City on the Property. The City shall complete the Site Improvements by no later Section 4.2. Lienfor Site Improvement. The License Agreement for the Property shall terminate upon the City's completion of the Site Improvements, or on such other date as specified in the document At the Developers request the City will execute a document, in recordable form, evidencing the termination of the License Agreement. The City shall retain a lien on the Development Property in the mount of One Hundred Eighteen Thousand Dollars ($118,000) until completion of the Minimum Improvements by the Developer, which amount represents the cost to the City of completion of the Site Improvements for the Development Property. The Lien Agreement shall be substantially in the form attached as Exhibit F. Page 10 I I I I I I I I I I i I t I I I I I I