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REQUIREMENTS FOR BUILDING PERMIT. No building permit for the site will <br />be issued until: 1) the permitt~e has signed and returned this Development Permit, and 2) <br />Cash or a Letter of Ch-e~t is deposited with the City in an amount equal to 150% of the City <br />Engineer's estimated cost of the Required Improvements. No Certificate of Occupancy for <br />occupancy of the structure will be issued until the Required Improvements are accepted by <br />the City. <br /> <br />IMPROVEMENT CONSTRUCTION SCHEDULE. The Required Improvements <br />shall be constructed and installed on or before October 31, 1992. <br /> <br />10. <br /> <br />ESCROW. In order to insure the installation of the Required Improvements in <br />accordance with City specifications and in a timely manner, the Permittee shall be required <br />to deposit with the City a cash escrow or letter of credit approved by the City, in the <br />amount of Seventy Five Thousand Four Hundred and no/100 dollars ($75,400.00), which <br />is 150% of the City's estimated cost of the Required Improvements. <br /> <br />Upon completion of the construction of the Required Improvements, as certified by the <br />City Engineer, the escrow shall be returned to Permittee. In the event Permittee fails to <br />construct and install the Required Improvements as required herein, the City may complete <br />the Required Improvements with City day labor and/or by letting contracts for said <br />completion and draw upon the escrow for payment. Permittee hereby grants permission <br />and a license to the City and/or its contractors and assigns to enter upon the Site for the <br />purpose of completing the construction and installation of the Required Improvements in <br />the event of Permittee's default. <br /> <br /> Glenn Rehbein Excavating, Inc., by its undersigned representative, hereby acknowledges receipt <br /> of this permit and that it has reviewed the conditions of this permit and has agreed that it will <br />· comply with the terms of this permit. <br /> <br />By: <br /> <br />Niel A. Banta <br /> <br />As: <br /> <br />Vice-President <br /> <br />Of: <br /> <br />Glenn Rehbein Excavating, Inc. <br /> <br />STATE OF MINNESOTA ) <br /> ) SS. <br />COUNTY OF ANOKA ) <br /> <br />On this~ day of , 1991, before me a Notary Public, personally <br />appeared Neil A. Banta, the Vice-President of Glenn Rehbein Excavating, Inc., to me known to be <br />the person described in and who executed the foregoing instrument and acknowledged that he <br />executed the same as his free act and deed. <br /> <br />Notary Pabtic <br /> <br />I <br /> <br />I <br /> <br />! <br /> <br /> I <br /> <br /> <br />