Agenda - Council - 09/12/2017 - Laserfiche WebLink

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PERMITTEE shall be responsible for contacting the CITY to schedule the pre - construction meeting. The CITY will contact all utilities listed above and 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. Lot Corner Staking. The PERMITTEE must install lot corner stakes at all lot corners. 6. 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 Five Hundred Seventeen Thousand Five Hundred Thirty Two Dollars and No Cents ($517,532.00), which amount is 125% of the CITY Engineer's estimated cost of 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, in writing and accompanied by an updated certified engineer' s estimate of remaining work to be completed, a reduction to or release of the correlating amount of the financial guarantee. The accepted engineer's estimate is attached as Exhibit C hereto. 7. 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 Twenty Thousand Seven Hundred One Dollars and No Cents ($20,701.00), which amount is 5% of the CITY Engineer' s estimated cost of the Stage I Improvements. The inspection fee must be in the form of a cash escrow. The PERMITTEE may request a refund of the remaining balance in the escrow upon completion of the Stage I Improvements, acceptance by the CITY, and supported by appropriate lien waivers. The accepted engineer' s estimate is attached as Exhibit C hereto. 8. Installation of the Stage I Improvements. The PERMITTEE shall obtain all necessary permits from all governmental agencies before commencing construction of the Stage I Improvements. The PERMITTEE must provide the CITY with copies of all necessary permits from other governmental agencies prior to or when the PERMITTEE applies for a building permit to construct improvements on a lot within the Plat. Within thirty (30) days after the completion of the Stage I Improvements, the PERMITTEE shall provide the CITY with a complete set of reproducible "As Built" plans in CAD format for the Stage I Improvements. 9. Time of Performance for the Stage I Improvements. The PERMITTEE must complete the Stage I Improvements within one (1) year after the recording of the Plat. The Final Plat must be recorded within two (2) years of approval by the City Council. 3