Agenda - Council - 06/27/1989 - Laserfiche WebLink

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agreed as follows: MARKETABLE TITLE. Developer(s) shall provide proof of marketable title for the Subject Property to the City. IMPROVEMENTS. The Developerfs) will construct improvements shown on the final plans as directed by the Cily Engineer, in accordance with the City standards and specifications. These improvements include the hard surfacing of Coquina Street NW within the plal known as Oak Run, including bituminous sudacing and related ditches, grading, backsiopes, drainage and seeding. The Developer(s) shall be responsible for any expense associated with the construction of these improvements. The Developer(s) shall restore all dislurbed areas as specified by the City Engineer. The Developer(s) shall also provide erosion control measures during construction to control erosion. The location and specifications lot the improvements are as shown on the attached plans, which plans are attached here to as Exhibit F!r,~ANCIALGUARANTEE. The Developer(s) shall provide a financial guarantee tot the construction of these improvements. This guarantee shall be in the form of cash or City approved letler of credit in the amount of Sixty-two Thousand Three Hundred Seventy-five Dollars ($62,375.00), which amount represents 125% of the Engineer's estimated cost for such improvements. In addition to the letter of credit, the Developer(s) shall post a maintenance guarantee al the time of completion of the improvements in the amount of $5,000.00. This security shall be deposited with the City in the form of cash escrow or letter of credit in a torm 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. .C~RADING AND DRAINAGE PLAN. The developer(s) shall comply with grading and drainage plans submitted to and approved by the City Engineer. PARK LAND DE~IOAT!ON. Park dedication requirements shall be fulfilled in accordance with the City Ordinance for park dedication in effect at the time of the subdivision application which reauires cash payment at the time of the building permit issuance. This amount is Five Hundred Dollars ($500.00) per lot or Six Thousand Dollars ($6,000.00) for the entire subdivision . Said amount shall be payable to the City prior to the recording of the plat. CONSTRUCTIO,k' SITE DE_~R!S. The Developer(s) shall adhere to Ordinance No. 89-11: An Ordinance Regulating the Dumping of Garbage, Refuse, She Development and Construction Debris. SEALCOAT1NG ESCROW. The Developer(s) and adjacent landowners shall not be required tc provide seaicoatin¢ escrow. VARIANCES. The Developer(s) is granted a lot size variance and a common access onto a major thoroughfare (Nowthen Boulevard NW) for Lots 7 and 8, Block 1, Oak Run Addition.