Laserfiche WebLink
I <br />I <br />I <br /> <br />I <br />I <br />i <br />I <br />I <br />I <br />I <br /> <br />10. <br /> <br />11. <br /> <br />12. <br /> <br />- 4 - <br /> <br />DEVELOPMENT CONTRACT - RIVER'S BEND <br /> <br />The Developers agree to supply the financial guarantee <br />as described above to the City prior to awarding the <br />construction contracts by the City. <br /> <br /> /The Developers agree that the terms of the financial <br /> guarantee shall be deemed to have been violated if the <br /> Developers fail to perform any of the terms of this <br /> Contract in the manner required by the City and the City <br /> shall be entitled to recover from the Developer or the <br /> Developer's surety, the full amount of the financial <br /> guarantee. In addition a late charge fee of 10% of any <br /> special assessment payment deliquent by more than 30 <br />,~ days shall be required for late payments. Said 10% <br /> \shall be paid to the Project's Bond fund established by <br /> the City <br /> <br /> The Developers agree to pay the cost of construction of <br /> (a) 142nd Avenue N.W. from trunk Highway 47 to Waco <br /> Street N.W.; (b) Waco Street N.W. from 142nd Avenue N.W. <br /> to 142nd N.W. Lane as well as provide the construction <br /> and permanent right-of-way easements for said Waco <br /> Street; (c) one-fourth (1/4) of the cost of construction <br /> of the turn lanes on trunk Highway 47 at the <br /> intersection of 142nd Avenue N.W. and trunk Highway 47. <br /> These streets are all as shown on the preliminary plat ~ <br /> of RIVER'S BEND dated April 16, 1984 and prepared by <br /> John Oliver and Associates .................. <br /> <br /> No plumbing permit shall e i su until the water <br /> meter deposit has been received by the City. As part <br /> of the plumbing requirements, backflow preventers shall <br /> be installed in each sewer line. <br /> <br />No building permit for any lot in the subdivision shall <br />be issued until (a) vehicular access to the lot is <br />provided; (b) site plan approval is granted by the City <br />and any additional expense incurred in giving site plan <br />approval has been reimbursed to the City. <br /> <br />No certiciate of occupancy shall be issued until: <br /> <br />(a) <br /> <br />Satisfactory State Building Code complaince has <br />been completed; <br /> <br />(b) <br /> <br />Hard surfaced driveways have been constructed, <br />unless satisfactory excrow representing 125% of <br />the City Engineer's estimated construction cost of <br />a hard surfaced driveway has been deposited with <br />the City. Said escrow shall be refunded upon <br />completion of the hard surfaced driveway as <br />approved by the City Engineer. <br /> <br /> <br />