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DEVELOPER shall also I~ responsible for the cost of cl~'fing any soft, ~tgth or debris <br />fi'om the wetlands within and adjacent to this Plat resulting from gra~ing performed in the <br />development of the lan& <br />Reo_uirements 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 30, 1993. <br /> <br />Stage I Imvrovement 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 final 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 mount of One Hundred Forty One Thousand Two Hundred Fifty <br />Dollars and no cents ($141,250.00), 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, acceptance by the CITY, and supported by lien waiver, the <br />DEVELOPER can request (in writing) a total reduction in the amount of the Letter of <br />Credit upon providing a maintenance guarantee'. <br /> <br />Sta~e I Improvvment Mointenance Financial Guarantee, In addition to the <br />financial guarantee required by Paragraph 8 above, the DEVELOPER shall also post a <br />Stage I improvement maintenance guarantee w/th the CITY. Said maintenance guarantee <br /> <br /> <br />