Agenda - Council - 07/12/2016 - Laserfiche WebLink

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of the financial guaranteothe City may from time to time. at its discretion. release all or Hart of the Stage I Improvement Financial Guarantee. 7. Stage I Inspection Fees - c 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 THIRTY THREE THOUSAND TWO HUNDRED SEVENTY DOLLARS AND 90 CENTS. ($33,270.90), which amount is 5% of the City Engineer's estimated cost of the Stage I Improvements ($665,417.95 x .05). The inspection fee must be in the form of a cash escrow. The PERMITTEE may submit a request, supported by appropriate lien waivers. for the City toff refund of the remaining balance in the escrow upon completion of the Stage I Improvements; and acceptance by the CITY warted by appropriate lien waiver;. 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. 9. Time of Performance for the Stage I Improvements. Except for the wear course on 146th Avenue NW. the wear course on the private streets on Lot 49. Block 1. STATION. private landscaping on the lots in the Plat. and private sidewalks on Lot 49. Block 1. STATION.The PERMITTEE must complete the Stage I Improvements within one (1) year after the recording of the Plat. The wear course on 146th Avenue NW and the wear course on the private streets on Lot 49. Block 1. STATION, shall be completed by October 1, 2017. The private landscaping on the lots in the Plat, and private sidewalks on Lot 49, Block 1. STATION shall be constructed as adiacent structures are completed and security for such improvements have been made part of the Stage I Improvements Financial Guarantee and shall not be collected by the CITY in coniunction with anv building permits in the Plat. 10. Ownership of the Stage I Improvements. The PERMITTEE owns the Stage IA Improvements until the CITY'S acceptance of the Stage IA Improvements. Title to the Stage IA Improvements automatically passes to the CITY upon the CITY' S written acceptance of the Stage IA Improvements. Except to the extent the CITY has accepted all or portions of the Stage IA Improvements, in writing, prior to the lapse, expiration, or other termination of the Stage I Improvement Financial Guarantee CITY'S friianial giant j described in Section Paragraph 6 and except to the extent the CITY and the PERMITTEE may agree, in writing, to defer the CITY'S acceptance of certain specified Stage IA Improvements, the CITY is deemed to have accepted the Stage IA Improvements when the CITY releases the Stage I Improvement Financial Guaranteefiaaniml. sNAmata175 described in Section 4 Formatted: Highlight Formatted: Superscript Formatted: Font: Bold I Formatted: Font: Times New Roman, 12 pt J { Formatted: Font: Times New Roman, 12 pt 1