Agenda - Council - 10/13/1981 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I a) Each of the site plan improvements as shown on that cer- tain document entitled "Site Plan" dated July 15, 1981, known as Drawing No. 7/3-81 and prepared by James Refrigeration Company. b) Provide landscaping, tree and shrubbery placement and varieties as shown on that certain document entitled "Land- scape Plan for James Refrigeration Company Superette dated September 16, 1981. That all of the said improvements shall be in accordance with the time table and plans and specifications therefor to be approved or prepared by the City Engineer. 2) The estimated cost of the improvement is $8,000. The Developer hereby agrees to provide a letter of credit pursuant to City Code in the amount of $12,OOO (150% of the improvement cost) to guarantee the Developer complying with all of the requirements as set forth aforesaid and to insure that the plantings described in the landscape plan lime through the 1982 growing season, and the installation of all of said improvements in a good and workmanshiplike manner, pursuant to the plans and specifications and requiremetns of the City Engineer. 3) Further, the Developer shall pay to the City all expenses of the City for the preparation of any plans and specifications for the said improvements, and that said payment shall be made to the City in advance based upon the City cost estimates of the City Engineer. The said payment shall also include the inspection costs of the City for its costs in in- specting the construction of the aforesaid improvements by the City Engineer. The Developer shall also pay to the City any legal expenses incurred which relate to'the required improvements. 4) IT IS FURTHER AGREED, that should any of the terms of this agreement fail to be performed by the Developer in the time permitted herein, or in the manner required by the City Code and the City Engineer, that the City shall be entitled to recover from the Developer and its surety agents on demand by the City the amount held by the letter of credit. 5) That in the event the letter of credit is forfeited and the City constructs or completes all of the required acts as set forth afore- said and the City finds that the cost of such improvements exceeds the amount of the forfeited letter of credit, the remaining balance of said costs can and shall be assessed against all of the property in the said plat. ATTEST: City Administrator/Clerk CITY OF RAMSEY BY: It's Mayor JAMES REFRIGERATION COMPANY BY It's President