Laserfiche WebLink
b. Water <br />c. Storm drainage facilities <br />d. Stormwater maintenance <br />e. Parking lot <br />f. Concrete curb and gutter <br />g. Lot grading <br />h. Landscaping <br />12. Financial Guaranty for Stage I Improvements. Stage II Improvements. and Required <br />Private Improvements. The PERMITTEE shall provide a financial guarantee to the CITY <br />guaranteeing the construction of the Stage I Improvements, Stage II Improvements, <br />Required Private Improvements, and their timely completion. The PERMITTEE shall be <br />responsible for a financial guarantee in the amount of ($750,000.00), which amount is <br />125% of the CITY Engineer's estimated cost of the Stage I Improvements. Upon <br />completion of Stage I Improvements (including the removal of "temporary" erosion control <br />measures as identified in the approved Grading Plan), acceptance by the CITY, supported <br />by appropriate lien waivers, The PERMITTEE may request a reduction in the amount of <br />the financial guarantee. <br />13. Inspection Fees for the Stage I Improvements. Stage II Improvements. and Required <br />Private Improvements. The PERMITTEE shall provide an inspection fee to the CITY to <br />inspect the Stage I Improvements, Stage II Improvements, and Required Private <br />Improvements. The PERMITTEE shall be responsible for an inspection fee in the amount <br />of ($30,000.00), which amount is 5% of the City Engineer's estimated cost of the Stage I <br />Improvements, Stage II Improvements, and Required Private Improvements. The <br />inspection fee must be in the form of a cash escrow. The PERMITTEE may request a <br />refund of the remaining balance in the escrow upon completion of the Stage I <br />Improvements, Stage II Improvements, and Required Private Improvements, acceptance <br />by the CITY. <br />14. Warranty for Stage I and Stage II Improvements. The PERMITTEE shall provide a one <br />year warranty in the amount of $150,000.00, which is 25% of the cost of the Stage I and <br />Stage II Improvements. Said warranty shall be in force for one year following the final <br />acceptance of any required improvements and shall guarantee satisfactory performance of <br />said improvement. The warranty must be in the form of a Letter of Credit in a form <br />acceptable to the CITY'S Finance Director or a cash escrow. <br />15. Street Cleaning and Clean Up. After the street surfacing that is a part of the Stage I <br />Improvements is installed, the PERMITTEE shall clear any soil, earth, or debris from the <br />streets. From time to time, the CITY may remove accumulations of soil, earth, and debris <br />from the streets resulting from the construction of the Stage I Improvements. It shall be <br />the PERMITTEE'S responsibility to pay the costs associated with this necessary street <br />cleaning. Invoices from the CITY to the PERMITTEE for such costs shall be paid within <br />fifteen (15) days of the date of the invoice. <br />16. Payment of Development Fee's. The PERMITTEE must pay to the CITY the fees <br />described on Exhibit B which may include, but are not limited to, Park Land Dedication <br />Fees, Trail Development Fees, Sanitary Sewer Connection (Trunk) Fees, Water <br />Connection (Trunk) Fees, Sanitary Sewer Lateral Fees, Water Lateral Fees, Storm <br />Management Fees, Street Light as well as Street Light Operation and Maintenance Fees. <br />4 <br />