Agenda - Council - 03/23/1993 - Laserfiche WebLink

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Boulevard and Are,'t Resloralion, The DEVELOPER shall be responsible for the cost of establishing seed or sod in all boulevards within thirly (30) days of the completion of the street improvements, and restore all other areas disturbed by the development grading operation in accordance with the approved erosion and sediment control plan. The DEVELOPER shall also be responsible for the cosl of cleaning any soil, earth or debris from the wetlands within and adjacent to this Plat resulting from grading performed in the development of the land. ~ In the event that the CITY, for whatever reason, is unable to sell the bonds as anticipated herein, the construction of the improvements shall immediately cease until the CITY approves an alternate method by which to insure payment to the contractor for construction of the Stage I Improvements. 7. Develooer Reimbursement of All City Ex_Denses. The DEVELOPER agrees to full), reimburse the CITY for all costs incurred by the CITY including, but not limited to, the actual cost of construction of said Stage I Improvements, engineering fees, administrative fees, legal fees, inspection fees, interest fees, costs of acquisition of necessaq,, easements, if an3', and any other cost incurred by the CITY relating to this Development Agreement and the installation of the aforementioned improvements. In addition, the DEVELOPER a~ees as follows: (a) The DEVELOPER agrees to reimburse the CITY for all costs described above pertaining to improvements by special assessments to be levied against the Subject Property payable over five (5) >,ears. However, special assessments against each lot in the Su~ect Property must be paid in full upon occurrence of any of the following with respect to each such individual lot: Prior to transfer of title, prior to issuance of an occupancy permit, or upon filing of an), liens whichever occurs first. No Certificates of Occupancy will be issued without prior payment of all outstanding special assessments against an), such lot. (b) The DEVELOPER a~ees to notify the CITY of all sales of lots within the Plat. (c) The DEVELOPER and the CITY agree that the costs described above pertaining to the improvements shall be assessed against the benefitted property on a five (5) >,ear term, pursuant to City Code and that the financial guarantee, described in para~aph 8 below, will be in force and effect until all such special assessments are paid and all other obligations of DEVELOPER under this Agreement are satisfied. The