Agenda - Council - 10/10/2017 - Laserfiche WebLink

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(the "Stage II Improvements"). The PERMITTEE must complete the construction of the Stage II Improvements within one (1) year after the date upon which the Plat is recorded. PERMITTEE must install the Stage II Improvements in accordance with the Plans. 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 II Improvements and acceptance by the CITY. As as -built plans are a required Stage II Improvement item per City Code Section 117- 615, the CITY will not release the required Stage I Improvement Financial Guarantee noted in paragraph #6 above until CITY has received the as -built plans. Additionally, the PERMITTEE agrees to provide to the CITY the plans in CAD format prior to the commencement of construction of the Stage II Improvements. 13. Financial Guaranty for Stae II Improvements. The CITY does not require a financial guaranty to secure the PERMITTEE' S obligation to construct the Stage II Improvements. 14. Warranty for Stae I and Stae II Improvements. The PERMITTEE shall provide a one year warranty in the amount of 25% of the cost of the Stage I and Stage II Improvements. Said warranty shall be in force for one year following the final acceptance of any required improvements and shall guarantee satisfactory performance of said improvement. The warranty must be in the form of a Letter of Credit in a form acceptable to the CITY'S Finance Director or a cash escrow. 15. Street Improvements. The CITY shall plan and install the second lift of bituminous pavement of Traprock Street NW and 146th Avenue NW which is immediately adjacent to Lot 1 Block 1 of the Plat at a cost of $29,000.00. The PERMITTEE shall be responsible for 50% of the total street improvement cost resulting in a fee payable by the PERMITTEE to the CITY in the amount of ($14,500.00). 16. Street Cleaning and Clean Up.. After the street surfacing that is a part of the Stage I Improvements is installed, the PERMITTEE shall clear any soil, earth, or debris from the streets. From time to time, the CITY may remove accumulations of soil, earth, and debris from the streets resulting from the construction of the Stage I Improvements. It shall be the PERMITTEE'S responsibility to pay the costs associated with this necessary street cleaning. Invoices from the CITY to the PERMITTEE for such costs shall be paid within fifteen (15) days of the date of the invoice. 17. Payment of Development Fee's. At the time of project closing, the PERMITTEE must pay to the CITY the fees described on Exhibit B which may include, but are not limited to, Park Land Dedication Fees, Trail Development Fees, Sanitary Sewer Connection (Trunk) Fees, Water Connection (Trunk) Fees, Sanitary Sewer Lateral Fees, Water Lateral Fees, Storm Management Fees, Street Light as well as Street Light Operation and Maintenance Fees.