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

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13. Financial Guaranty for Stage II Improvements. This varagravh intentionally deleted.Tr CITY does not require 1 fiabx•J guaranty to secure the PERMITTEE'S obligation to coritrict/ftw Stag II Improvements. 14. Warranty for Stage I and Stage II Improvements. The PERMITTEE shall provide a one year warranty in the amount of 25% of the cost of the Stage I and Stage II Improvements ($665,417.95 x .25). ONE HUNDRED SIXTY SIX THOUSAND THREE HUNDRED AND FIFTY FOUR DOLLARS and 49 CENTS ($166,354.49). Said warranty shall be in force for one (1) year following the fmal acceptance of any required improvements and shall guarantee satisfactory performance of said improvement. The warranty must be in the form of a Letter of Credit in a form acceptable to the CITY'S Finance Director or a cash escrow. 15. Street Cleaning and Clean Up. After the street surfacing that is a part of the Stage I Improvements is installed, the PERMITTEE shall clear any soil, earth, or debris from the streets resulting from the construction of the Stage I Improvements. If after a minimum of twenty-four (241 hours' notice from the CITY. PERMITTEE I Formatted: Font: Bold has not cleared any soil. earth. or debris from the streets resulting from the y Formatted: Font: Bold construction of the Stage I Improvements. F 2 'i�n2e to time, the CITY may remove such accumulations of soil, earth, and debris from the streetaw,uuting from the construction of the Stage I Improvements. It shall be the PERMITTEE'S responsibility to pay the costs associated with this necessary street cleaning. Invoices from the CITY to the PERMITTEE for such costs shall be paid within fifteen (15) days of the date of the invoice. 16. Payment of Development Fcc'aFees. The PERMITTEE must pay to the CITY the Development Fees€€€s described on Exhibit B which may include, but are not limited to, Park Land Dedication Fees, Trail Development Fees, Sanitary Sewer Connection (Trunk) Fees, Water Connection (Trunk) Fees, Sanitary Sewer Lateral Fees, Water Lateral Fees, Storm Management Fees, Street Light as well as Street Light Operation and Maintenance Fees. 17. Requirements for Building and Occupancy Permits. a. No building permit for any lot in the Plat shall be issued until the PERMITTEE has: (a) installed a Class 5 driving surface to within three hundred (300) feet of the structure; (b) provided the CITY Building Official with a Certificate of Survey; c.) provided the Stage I Improvement Financial Guarantee financial vuaranty described in Section Paragraph 6 to the CITY; and d.) obtained all necessary permits from the Lower Rum River Watershed Management Organization and the Anoka County Soil Conservation District and has provided a copy of each such permit to the CITY; and b. No occupancy permit for any lot in the Plat shall be issued until the PERMITTEE has: (a) constructed vehicular access to the lot, including the I Formatted: Font: Times New Roman, 12 pt J Formatted: Font: Times New Roman, 12 pt 1