Agenda - Council - 04/12/2016 - Laserfiche WebLink

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received by the CITY. Additionally, the PERMITTEE agrees to provide to the CITY the plans in CAD format prior to the commencement of construction of the Stage I Improvements. 4. Additional Requirements Related to Certain Stage I Improvements. This paragraph intentionally deleted. 5. Lot Corner Staking. The PERMITTEE must install lot corner stakes at all lot corners. 6. Stage I Improvement Financial Guarantee. The PERMITTEE shall provide a financial guarantee to the CITY guaranteeing the construction of the Stage I Improvements and their timely completion. The PERMITTEE shall be responsible for a financial guarantee in the amount of Five Hundred Eighty Nine Thousand One Hundred Fifty Two Dollars and No Cents ($589,152), which amount is 125% of the CITY Engineer's estimated cost of the Stage I Improvements ($471,321.70 x 1.25). Upon completion of Stage I Improvements (including the removal of "temporary" erosion control measures as identified in the approved Grading Plan), acceptance by the CITY, supported by appropriate lien waivers, The PERMITTEE may request a reduction in the amount of the financial guarantee. The PERMITTEE agrees that the CITY will hold an amount equal to 125% of the engineer's estimate to construct the interim cul-de-sac on 159th Ave NW until a future phase that eliminates the need for the temporary cul-de-sac is commenced. In the event that this future phase is not commenced within twelve (12) months of the recording of the Plat, the PERMITTEE agrees to construct said interim cul-de-sac unless PERMITTEE has provided a written request for an extension and said request is approved by the CITY. 7. Inspection Fees for the Stage I Improvements. The PERMITTEE shall provide an inspection fee to the CITY to inspect the Stage I Improvements. The PERMITTEE shall be responsible for an inspection fee in the amount of Twenty Three Thousand Five Hundred Sixty Six Dollars and No Cents ($23,566.00), which amount is 5% of the City Engineer's estimated cost of the Stage I Improvements ($471,321.70 x .05). The inspection fee must be in the form of a cash escrow. The PERMITTEE may request a refund of the remaining balance in the escrow upon completion of the Stage I Improvements, acceptance by the CITY, and supported by appropriate lien waivers. 8. Installation of the Stage I Improvements. The PERMITTEE shall obtain all necessary permits from all governmental agencies before commencing construction of the Stage I Improvements. The PERMITEE must provide the CITY with copies of all necessary permits from other governmental agencies prior to or when the PERMITTEE applies for a building permit to construct improvements on a lot within the Plat. Within thirty (30) days after the completion of the Stage I Improvements, the PERMITTEE shall provide the CITY with a complete set of reproducible "As Built" plans for the Stage I Improvements.