Agenda - Council - 11/09/2004 - Laserfiche WebLink

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1. Establishment of turf in areas disturbed during construction and in accordance with the Landscape Plan; m. Temporary and permanent erosion control; n. Natural gas; o. Telephone service; p. Electric service. ("Required Improvements)". The DEVELOPER agrees to construct the Required Improvements according to the terms and conditions of this Permit and in accordance with DEVELOPERS' plans submitted to the CITY. The DEVELOPER shall be responsible for completing the rough grading and providing lot corner stakes prior to the installation of underground utilities. 8. Required Improvements Completion Date. The Required Improvements shall be completed on or before October 12, 2005. 9. Required Improvements Financial Guarantee. In order to ensure the installation of the Required Improvements in accordance with City specifications and in a timely manner, the DEVELOPER shall be required to deposit with the City, a cash escrow or letter of credit, approved as to form by the City, in the amount of One Million Four Hundred Five Thousand Nine Hundred Twenty Dollars and no cents ($1,405,920.00), which is 150% of the City's estimated cost of the Required Improvements. Prior to the issuance of any building permit, all financial guarantees must be provided as required herein. The CITY agrees to allow proportionate reductions in the Letter of Credit for any improvements installed by the DEVELOPER and accepted by the CITY. Upon total completion of the construction of the Required Improvements, the financial guarantee shall be returned to the DEVELOPER and the DEVELOPER shall be required to provide the landscaping maintenance guarantee described in Item #15 of this Development Permit. The determination of completion of the construction of the Required Improvements shall be made by the City Engineer. In the event the DEVELOPER fails to construct and install the Required Improvements as required herein, the City Council may order the completion of the Required Improvements with City day labor and/or by letting contracts for said completion and draw upon the financial guarantee for payment. Only the City Council shall have the authority to direct completion of the Required Improvements and withdraw from the financial guarantee. The DEVELOPER hereby grants permission and a license to the City and/or its contractors and assigns to enter upon the Subject Property for the purpose of completing the construction and installation of the Required Improvements in the event of the DEVELOPERS' default. 10. Inspection Fees. The DEVELOPER shall be responsible for all inspection costs incurred by the CITY related to the installation of Required Improvements. The DEVELOPER shall Ramsey Town Center 3rd Addition RAMDANCE, LLC Development Permit Page 4 of 10