Agenda - Council - 04/25/1989 - Laserfiche WebLink

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IMPROVEMENTS. The Developer will construct improvements shown on the plans as directed by the City Engineer, in accordance with the City standards and specifications. These improvements include the construction of those streets within the plat known as Iguana Street Northwest, 174th Avenue Northwest, and 176th Avenue Northwest, including bituminous surfacing and related ditches, grading, backslopes and drainage. The Developer shall be responsible for any expense associated with the construction of these improvements. The Developer shall restore all disturbed areas as specified by the City Engineer. The Developer shall also provide erosion control measures during construction to control erosion. FINANCIAL GUARANTEE. The Developer shall provide a financial guarantee for the construction of these improvements. This guarantee shall be in the form of cash or City approved Letter of Credit in the amount of One hundred thousand ($100,000) dollars, which amount represents 125% of the Engineer's estimated cost for such improvements. In addition to the Letter of Credit, the Developer shall post a maintenance guarantee at the time of the completion of the improvements in the amount of Five thousand ($5,000.00) dollars. This security shall be deposited with the City in the form of cash escrow or a Letter of Credit in a form to be acceptable to the City. This security shall be held by the City for One (1) year from the date of final acceptance of the improvements. Eo ~I-IADING AND DRAINAGE PLAN. The Developer shall comply with grading and drainage plans submitted to and approved by the City Engineer. BUILDING PERMITS. The Developer agrees that in compliance with City Code, no building permits for any lot in the plat shall be issued until the financial guarantees as described above have been provided and that all the grading and classified gravel has been placed on the roads. Go STAGE II IMPROVEMENTS. The Developer shall be required to complete Stage 2 Improvements (sealcoating) as provided in Section 170.03 of the City Code. In addition, the Developer shall provide a financial guarantee to the City for these improvements. This guarantee shall be the form of a cash deposit or a City approved Letter of Credit in an amount of Five thousand ($5,000.00) dollars. This guarantee shall be provided to the City prior to the issuance of any building permits on any lot in the plat. OTHER PERMITS & REGULATIONS. The Developer shall be required to be in compliance with all permitting and regulating agency requirements (e.g., U.S. Army Corps of Engineers, Anoka DOT, DNR, etc.) appropriate to the development of the land. DEVELOPMENT AGREEMENT. The Developer agrees to enter into a Development Agreement with the City of Ramsey.