Agenda - Council - 10/13/2020 - Laserfiche WebLink

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Estimated Cost. It is understood and agreed that cost amounts set forth in this Contact as to the Stage Z and Stage II Improvements, unless qualified as fixed amounts, are estimated. PER1VEETTEE agreeS to pay the entire cost of the Improvements, including interest, engineering and legal fees related thereto. Subdivision Approval Expenses. PERMITTEE shall pay to CITY all CITY expenses incurred in the approvaj of the Subdivision, including, but not limited to, admip,istration expen's s, and engineering. and legal fees. Aiiy such., expenses • • incurred after recording of the Plat shall be paid within fifteen (15) days after receipt of an invoice therefor. Failure to pay the CITY'S expenses within that fifteen (15) day period will permit the CITY to draw for payment upon any of the escrows required by this Contract, The CITY agrees to provide to PERMITTEE, promptly upon request, an estimate of all such expenses. k. Reimbursement to the CITY. PERMITTEE shall reimburse the CITY for all costs incurred by the CITY in defense or enforcement of this Contract if the City prevails in such action, or any portion thereof, including court costs and reasonable engineering and attorney's fees. 1. Marketable Title. Prior to recording of the Plat, PERMITTEE shall provide the CITY with proof of marketable title to the Property, either through a currently certified abstract, registered property abstract or title insurance. m. Certificate of Occupancy. The term "Certificate of Occupancy" as used in this Contract shall be defined as a document issued by the CITY'S Building Official, which authorizes a structure to be used for its intended purposes.. • n. Proof of Authority. The CITY requires PERMITTEE to provide proof of authority by its governing board to execute this Contract. This proof of authority may be satished by providing the CITY with a certified copy of the minutes of the governing board of PERM:TTEE. o. Recording of This Contract. See Section 17(d) above. P. Violation of This Contract. If PERMITTEE fail to perform any of the terms of this Contract, the CITY shall be entitled to recover, from PERI\' ITTEE or the issuer of its financial guarantee, ' the full amount of any and all financial guarantees or withhold the Certificate of Occupancy as defined in Section 16(m) above. Breach of any of the terms of this Contract by PERMITTEE shall be grounds for denial of a building permit for any portion of the Property still owned by PERMITTEE . Contract Binding On Successors and Assigns. This Contract shall be binding upon the parties, and their respective successors and assigns. MMKOWt SKI' FA LY FARM METES AND BOUNDS SUBDIVISION Development Contract Page 5of.1I