Agenda - Council - 08/13/2012 - Laserfiche WebLink

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maintenance guarantee described in Item# 14 of this Development Agreement. The determination of completion of the construction of the Required Improvements shall be made by the City Council after consultation with the City Engineer. In the event the PERMITI'EEfails to construct and install the Required Improvemmnts as required herein, the City Council may order the completion of the Required Improvemmnts 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 fromthe escrow account. The PERMITi'EE 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 Improvemmnts in the event of the PERMITI'EE's default. 10. Inspection Fees. The PERMITTEE shall be responsible for all inspection costs incurred by the City related to the installation of Required Improvements. The PERMITI'EE shall make a cash deposit into the appropriate escrow account at the City and the City shall have the authority to draw upon these funds for the purpose of compensating for inspection services. The amount of the deposit shall be equal to five percent (5%) of the estimated cost of the Required Improvements, which equates to Dollars and No Cents ($ .00) (5% x $ .00). Upon completion of the Improverrmnts to the satisfaction of the City, any surplus balance remaining in the City's escrow account shall be refunded to the PERMIT1'EL. Wiser Choice Liquor Development Permit Page 3 of 6