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and other expenses in connection with the processing and administration of the application. The performance of said contract shall be financially secured by a cash escrow deposit or other security as hereinafter set forth. In addition, the oontract shall provide that the applicant agrees to permit the City to enter the site and complete any City-required improv~ents which the applicant fails 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 be kept on file as part of the permanent record of the site and a copy shall be reoorded at the Anoka County Reoorder'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 amount which equals 150% of the Estimated oonstruction oost of all required City improvements (as estimated by the City Engineer) as outlined in this chapter exclusive of the cost of the actual building (s) to be constructed on the site. ~he financial security required herein may be used by the City to install or oo~plete 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 develoi~ent agreement and City standards, the financial security shall be released to the applicant. Standards Standards for all business and industrial districts shall be as specified in this chapter unless specified otherwise in this section. 1. Building 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 adjaoent to any other exist- ing or future structure or street. ~he Planning O3~mission, City Council and/or requir~rents of the state Building Code may change the require- ~ents of this paragral~h 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 ~onstruction as defined in the Minnesota State Building Code. All buildings shall be constructed of non-c~rbustible 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 accordance with M.P.C.A. Regulations K-9