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r. Letters of Credit. All letters of credit presented as a financial guarantee, if <br />required prior to issuance of a Certificate of Occupancy, shall be -first approved as <br />to form and content prior to acceptance by the CITY. <br />17. ReQuirernentsfor Building Permit and Certificate of accut ancv. <br />a. No building permit for any lot in the Plat shall be issued until: J Oa} a Class 5 <br />driving surface is installe1to' within • 300 ' feet of the proposed structure;. (b). a <br />Certif sate of Survey, including'the survey information required by the CITY, has <br />been supplied to the CITY Building Official; (c) all the financial guarantees <br />required by the CITY have been satisfied; (d) a permit from the Lower Rum <br />River Watershed Management Organization has been obtained; (e) a permit from <br />Anoka County Soil Conservation District has been obtained (if necessary); and (f) <br />this Contract has been signed and received by the CITY. <br />b, No Certificate of Occupancy for any lot in the Plat shall be issued until: (a) <br />vehicular access to the lot is provided, including installation of at least one Layer <br />of bituminous surfacing; (b) all utilities are in place; operational and accepted by <br />the CITY in accordance with this Agreement; (e) for lots that have a slope of less <br />than 2%, a certificate of grading, prepared by a licensed (State of Minnesota) <br />professional land surveyor, is provided to the CITY documenting that -the flattest <br />grade on the lot is 1 % or greater; and (d) boulevard sod and landscape tree, or <br />escrow for same, havq been provided. .. <br />c. All improvements included in the Permittee Plans, including amendment required <br />of the Cit)f Staff Review Letter dated April 26, 2012 are completed, or financial <br />guarantee in the,amount of 125% the City Engineer's estimate, of the cyst of said <br />improvements is secured in the form of cash escrow or letter of credit for the <br />parking lot and related items. • . . <br />d. • Vacant Parcel. The PER1►UTTEE agrees.that the vacant 57 acre.parcel shall not <br />be considered buildable and shall not be eligble for.. a Building Permit or <br />Certificate of Occupancy until such time the vacant parcel is subdivided in <br />accordance with City Code requirements to subdivide the parcel by plat. Said <br />platting requirements shall include, but are not limited to, dedicating proper <br />easements, delineating ass floodplain and weltand •information, and paying <br />applicable development fees. The vacant parcel shall be subject to applicable <br />processes, application/review fees, and development fees in effect and at the rate <br />in effect at the time said future plat is approved and required agreements are <br />executed. <br />18. Park Dedication. The PERI\JJTTEE is not responsible for Park Dedication Fees, as the <br />net result of the Subdivision does not create an additional buildable lot. The <br />PEI&IITTEE acknowledges that Park Dedication shall be required with future <br />subdivision requests and will be reviewed at the time the PERMITT i'E submits any <br />request for future subdivision. The rate in effect the time a development contract is <br />MAKOWSKI' FAMILY FARM METES AND BO DS SUBD.T VJSION <br />Development Contract <br />Page 6of11 <br />