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Boulevard and Area Re~toration. The DEVELOPER shall be responsible for the <br />cost of establishing seed or sod in all boulevards within thirty (30) days of the completion <br />of the street improvements, and restoring al1 other areas disturbed by the development <br />grading operation in accordance with the approved erosion and sediment control plan. The <br />DEVELOPER shall also be responsible for the cost of cleaning any soil, earth or debris <br />from the wetlands within and adjacent to this Plat resulting from grading performed in the <br />development of the land. <br /> <br />Requirements After Street Surfacing. After the street surfacing is installed, the <br />DEVELOPERS shall clear any soil, earth, or debris from the streets and from the lots <br />within the Plat resulting from any construction on the Subject Property by the <br />DEVELOPER or their successors and assigns. <br /> <br />Stage I Improvements Completion Date. The Improvement completion date shall <br />be on or before November 1, 1993. <br /> <br />Stage I Improvement Financial Guarantee. The DEVELOPER agrees and <br />understands that the CITY has the right, privilege and authority pursuant to Minnesota <br />Statutes Chapter 462.358 and as mended as a condition precedent to the approval of the <br />plans and specifications and approval of a £mal plat, to prescribe requirements and the <br />extent to which, and the manner in which the streets are to be graded or improved, and the <br />installation of sewer and water and other facilities and that the DEVELOPER shall <br />provide a financial guarantee to the CITY to provide for the actual construction and <br />installation of the required Stage I Improvements within a period specified by the City <br />Council. <br /> <br />The DEVELOPER shall provide a financial guarantee to the CITY guaranteeing the <br />construction of the Stage I Improvements and their timely completion. The financial <br />guarantee shall be in the amount of Two Hundred Sixty-seven Thousand Five Hundred <br />Dollars and no/cents ($267,500.00), which amount is 125% of the City Engineer's <br />estimated cost of the Stage I Improvements. ,.The financial guarantee required by this <br />paragraph shall be in the form of cash or a Letter of Credit, approved as to form by the <br />CITY. The financial guarantee required by this paragraph shall be deposited with the <br />CITY at the time of execution of this contract. Upon total completion of Stage I <br />Improvements and payment of all outstanding escrow account balances, acceptance by the <br />CITY, and supported by lien waiver, the DEVELOPER can request (in writing) a total <br /> <br /> <br />