Agenda - Council - 02/08/2005 - Laserfiche WebLink

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12. authority to direc' completion of the Required imProvements and withdraw from the escrow account. The Permittee hereby grants permission and a license to the City and/or its contractors and assigns to enter upon .the Site for the purpose of completing the construction and installation of the Required ImprovementS in the event of the Permittee's default MAINTENANCE GUARANTEE FOR LANDSCAPING. It is herein agreed that the Permittee shall provide a maintenance guarantee to ensure the survival of the plantings. Said maintenance guarantee shail consist of cash or a letter of credit, approved as to form by the City, in the amount of Two Thousimd Three Hundred. Eighty Five Dollars and no Cents ($2,385) [# plantings (28 trees, 50 shrubs) x cost/planting ($150/tree, $75/shrub) x 30% average non-survival rate] ,. which shall be in effect for a two-year period commencing on the date of the City's acceptance of said plantings as Part' of the Required-Improvements. At the end of the two-year period, themaintenance guarantee shall be returned to the Permittee. The determination that all plantings that have be~n p!anted in accordance with the Site Plan and Landscaping Plan haxJe either survived Or have been rePlaced shall be made by the City Council after consultation with the City. Engineer, In the ex(ent the Permittee fails, to maintain the required plantings for a two-year period, the City Council may order the replacement of plantings with City day labor land/or by letting contracts and draw upon the escrow for payment. Only the City Council shall have the authority to direct replacement of the plantings- and withdraw from the escrow account. The Permittee hereby grants permission and a license to the City and/or its contractors and ~signs to enter upon the Site for the purpose of replacing plantings in the event of the Permittee?s default. 13. INSPECTION FEES. The permittee'shall be responsible for all inspection costs incurred by the City related to the installation of the Required Improvements. The Permittee shall make a cash deposit into the appropriate escroW iaccount at the City and the City shall have the. authority to draw upon these funds for the purpose of compensating for inspection services. The amount of the deposit 'shall be eqUal to five percent (5%) of the estimated cost of the Required Improvements,-which equates to Two Thousand Eight Hundred Fifty Dollars and no Cents ($2,850). This is to: cover the cost of inspecting the site grading and installation of improvements. Upon completion °fthe ImproVements to the satisfaction of the City, any surplus balance remaining in the City's escrow account shall be refunded to the Permittee.. 14. OUTSIDE REGULATORY ~AGENCIES. The Permittee herein agrees to be responsible for obtaining all required Permits or licenses from any other regulatory agencies._ Felco Properties hereby acknowledges .receipt of this permit and that they have 'reviewed the conditions of and have agreed that they will comply with the terms of this permit. FELCO PROPERTIES By STEVE FELDMAN - Its: