Agenda - Council - 02/28/2017 - Laserfiche WebLink

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3. Stage I Improvements. The Stage I Improvements the PERMITTEE will construct or install in accordance with the Plans are as follows: a. Grading b. Tree clearing/grubbing (the "Stage I Improvements"). The PERMITTEE agrees to construct the Stage I Improvements according to the terms and conditions of this Agreement and in accordance with the Plans and the City Code. Per City Code Section 117-615, the PERMITTEE shall provide the CITY with a set of re -producible as -built plans in Computer Aided Drafting (CAD) format upon completion of the Stage I Improvements and acceptance by the CITY. As as -built plans are a required Stage I Improvement item per City Code Section 117-615, the CITY will not release the required Stage I Improvement Financial Guarantee noted in Section 6 below until said as -built plans are provided to the CITY. Additionally, the PERMITTEE agrees to provide to the CITY the plans in CAD format prior to the commencement of construction of the Stage I Improvements. 4. Additional Requirements Related to Certain Stage I Improvements. The PERMITTEE is required to hold a pre -construction meeting at CITY offices. The PERMITTEE shall be responsible for contacting the CITY to schedule the pre - construction meeting. The CITY will prepare the agenda for the pre -construction meeting. Work within existing rights of way and roadways must be completed under traffic, be brought back up to grade, and must be restored to existing conditions within 24 hours. 5. Stage I Improvement Financial Guarantee. Prior to commencing work on the Stage I Improvements, the PERMITTEE shall provide a financial guarantee, in the form of cash or an irrevocable letter of credit, to the CITY guaranteeing the construction of the Stage I Improvements and their timely completion. The PERMITTEE shall be responsible for a financial guarantee in the amount of Thirty Nine Thousand Three Hundred Three Dollars and No Cents ($39,303.00), which amount is 125% of 20% of the grading work and 125% of the tree clearing work in the Engineer's Estimate for the Stage I Improvements. Upon completion of Stage I Improvements (including the removal of "temporary" erosion control measures as identified in the approved Grading Plan), acceptance by the CITY, supported by appropriate lien waivers, the PERMITTEE may request a reduction in the amount of the financial guarantee. The accepted engineer' s estimate is attached as Exhibit C hereto. 6. Inspection Fees for the Stage I Improvements. The PERMITTEE shall provide an inspection fee to the CITY to inspect the Stage I Improvements. The PERMITTEE shall be responsible for an inspection fee in the amount of One Thousand Nine Hundred Sixty Five Dollars and No Cents ($1,965.00), which 2