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p. Violation of This Contract. If PERMITTEE fail to perform any of the terms of <br /> this Contract, the CITY shall be entitled to recover, from PERMITTEE or the <br /> issuer of its financial guarantee, the full amount of any and all financial <br /> guarantees or withhold the Certificate of Occupancy as defined in Section 16(m) <br /> above. Breach of any of the terms of this Contract by PERMITTEE shall be <br /> grounds for denial of a building permit for any portion of the Property still owned <br /> by PERMITTEE. <br /> q. Contract Binding On Successors and Assigns. This Contract shall be binding <br /> upon the parties, and their respective successors and assigns. <br /> r. Letters of Credit. All letters of credit presented as a financial guarantee, if <br /> required prior to issuance of a Certificate of Occupancy, shall be first approved as <br /> to form and content prior to acceptance by the CITY. . <br /> 20. Requirements for Building Permit and Certificate of Occupancy. <br /> a. No building permit for any lot in the Plat shall be issued until: (a) a Class 5 <br /> driving surface is installed to within 300 feet of the proposed structure; (b) a <br /> Certificate of Survey, including the survey information required by the CITY, has <br /> been supplied to the CITY Building Official; (c) all the financial guarantees <br /> required by the CITY have been satisfied; (d) a permit from the Lower Rum <br /> River Watershed Management Organization has been obtained; (e) a permit from <br /> Anoka County Soil Conservation District has been obtained (if necessary); and (f) <br /> this Contract has been signed and received by the CITY. A footings and <br /> foundation permit for the structure has been waived by prior action of the City <br /> Council. <br /> b. No Certificate of Occupancy for any lot in the Plat shall be issued until: (a) <br /> vehicular access to the lot is provided, including installation of at least one layer <br /> of bituminous surfacing; (b) all utilities are in place, operational and accepted by <br /> the CITY in accordance with this Agreement; (c) for lots that have a slope of less <br /> than 2%,. a certificate of grading, prepared by a licensed (State of Minnesota) <br /> professional land surveyor, is provided to the CITY documenting that the flattest <br /> grade on the lot is 1% or greater; and (d) boulevard sod and landscape tree, or <br /> escrow for same,have been provided. <br /> C. All improvements included in the Permittee Plans, including amendment required <br /> of the City Staff Review Letter dated December 8, .2010 are completed, or <br /> financial guarantee in the amount of 150% the City Engineer's estimate of the <br /> cost of said improvements is secured in the form of cash escrow or letter of credit <br /> for the parking lot and related items. <br /> 21. Park Dedication. The Plat is located in the CITY's Greenland Hills District. The current <br /> park dedication requirement is $4,738 per commercial acre. At the City Council meeting <br /> on October 26, 2010, the Council accepted the recommendation of the Park Commission <br /> to accept, in full satisfaction of the park dedication requirement for the Plat, fee title to a <br /> ALPHA DEVELOPMENT/Legacy Christian Academy <br /> Development Contract <br /> Page 9 of 16 <br />