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City to enter the site and complete any City-required imprcve~ents which the applicant fa/is to complete.' The contract shall also provide that it is binding on all heirs, assigns, and successors of the applicant. A copy of the contract shall he kept on file as part of the permanent record of the site and a copy shall be recorded at the Anoka County Recorder's Office. To ensure that the site is developed in accord with the approved plans and City specifications, the applicant shall provide a cash escrow, certificate of deposit, letter of credit from an acceptable financial institution or performance bond. The financial security shall be in an ~mount which equals 150% of the Estimated construction cost of all required City improvements (as estimated by the City Engineer) as outlined in this chapter exclusive of the {Dst of the actual building(s) to be constructed on the site. ~e financial security required herein may be used by the City to install or complete any of the City's required on- site improvements which the applicant fails to complete. Upon final aproval by the City Engineer certifying that all on-site improvements have been completed in accordance with the development agreement and City standards, the financial security shall be released to the applicant. Standards Standards for all business and industrial districts shall he as specified in this chapter unless specified otherwise in this section. 1. B,,{lding Design and Construction.. a. All exterior wall finishes on any building con- structed shall be of material other than metal on at least fifty percent (50%) of the exposed wall where the building is adjacent to any other exist- ing or future structure or street. ~he Planning Commission, City Council and/or requir~ents of the State Building Code may change the require- ments of this paragraph depending on the relative location of the building and surrounding areas. b. All buildings in the business districts shall be of Type III or Iv construction as defined in the Minnesota State B,~4]ding Code. All buildings shall be constructed of non-combustible material and shall have frost footings constructed in compliance with the State Building Code. 2..' Wastes: All solid waste material and refuse shall be stored within a completely creened structure or container designed for such purpose. All hazardous wastes shall be disposed of in acoordance with M.P.C.A. Regulations on Hazardous Wastes as adopted June 18, 1979 and contained in 6MCAR Minnesota Code of Agency Rules, Paragraphs 4.9001 - 4.9010. ~he City Engir~cr shall pre~cribe, the manner of sewage treatment and disposal in the case of large volu~e water useage. Sections