Agenda - Council - 04/27/2004 - Laserfiche WebLink

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18. Time of Performance. The DEVELOPER shall install all Required Improvements by May 1, 2005. The DEVELOPER may, however, request an extension of time from the CITY. If an extension is granted, it shall be conditioned upon updating the security posted by the DEVELOPER to reflect cost increases. 19. Ownership of Improvements. Upon the completion of the work and construction required to be done by this Agreement, the Improvements lying within public easements shall become CITY property without further notice or action. 20. Landscaping. a. Compliance With Plans. The DEVELOPER shall landscape the Plat in accordance with approved plans. The landscaping shall be accomplished in accordance with a time schedule approved by the CITY. b. Maintenance Guarantee for Landscaping. The DEVELOPER shall provide a maintenance guarantee to ensure the survival of the plantings for the for the Plat. Said maintenance guarantee shall consist of cash or a Letter of Credit, approved as to form by the CITY, in the amount of $33,300 [required plantings (387 trees; 1446 shrubs) x cost/planting ($100/tree, $50/shrub x 30% average non-survival rate], which shall be in effect for a two-year period commencing on the date of the CITY's acceptance of said plantings as part of the Required Improvements. The DEVELOPER shall be required to establish with the CITY an escrow to secure payment of said $33,300.00 (the "Landscaping Escrow"). At the end of the two-year period, the maintenance guarantee shall be returned to the DEVELOPER. The determination that all plantings that have been planted in accordance with the Subject Property have either survived or have been replaced'shall be made by the Community Development Department. In the event the DEVELOPER fails to maintain the required plantings for a two-year period, the CITY Council may order the replacement of plantings with CITY day labor and/or by letting contracts and draw upon the escrow for payment. Only the CITY Council shall have the authority to direct replacement of the plantings and withdraw from the escrow account. The DEVELOPER hereby grants permission and a license to the CITY and/or its contractors and assigns to enter upon the Site for the purpose of replacing plantings in the event of the DEVELOPER's defaultl c. Tree Disease Prevention and Disposal. The DEVELOPER shall prevent the introduction and spread of tree disease into the residual tree populations of the Subject Property and adjoining properties as well as mitigate the effects of construction activity on tree health, within and outside of the Subject Property. The DEVELOPER, in order to protect trees from construction damage shall: i. Install physical barriers, such as snow fence, around trees that are to remain after initial grading. The fencing shall be located at the dripline of these 'save' trees. ii. Insure that all equipment operators Will have readily available, a tree wound dressing and will apply it immediately to damaged oak trees if wounding occurs from April 15 through July 15. Ramsey Town Center 2"d Addition Development Contract Page 6 of 14 Pages