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plantings (12 trees, 0 shrubs) x cost/planting ($150/tree, $75/shrub) x 30% average non- <br />survival rate x 30% average non-survival rate], which shall be in effect for a two-year <br />period commencing on the date of the City's acceptance of said plantings as part of the <br />Required Improvements. <br /> <br />At the end of the two-year period, the maintenance guarantee shall be returned to the <br />Permittee. The determination that all plantings that have been planted in accordance with <br />the Site Plan and Landscaping Plan have either survived or have been replaced shall be <br />made by the City Council after consultation with the City Engineer. In the event the <br />Permittee fails to maintain the required plantings for a two-year period, the City Council <br />may order the replacement of plantings with City day labor and/or by letting contracts <br />and draw upon the escrow for payment. Only the City Council shall have the authority to <br />direct replacement of the plantings and withdraw from the escrow account. The <br />Permittee hereby grants permission and a license to the City and/or its contractors and <br />assigns to enter upon the Site for the purpose of replacing plantings in the event of the <br />Pcrmittee's default. <br /> <br />14. <br /> <br />INSPECTION FEES. The Permittee shall be responsible for all inspection costs <br />incurred by the City related to the installation of the Required Improvements. The <br />Pcrmittee shall make a cash deposit into the appropriate escrow account at the City and <br />the City shall have the authority to draw upon these funds for the purpose of <br />compensating for inspection services. The amount of the deposit shall be equal to five <br />percent (5%) of the estimated cost of the Required Improvements, which equates to One <br />Thousand Four Hundred Sixty-Eight Dollars and no Cents ($1,468). This is to cover the <br />cost of inspecting the site grading and installation of improvements. Upon completion of <br />the Improvements to the satisfaction of the City, any surplus balance remaining in the <br />City's escrow account shall be refunded to the Permittee. <br /> <br />15. <br /> <br />OUTSIDE REGULATORY AGENCIES. The Permit-tee herein agrees to be <br />responsible fbr obtaining all required permits or licenses from any other regulatory <br />agencies. <br /> <br />Panther Investments hereby acknowledges receipt of this permit and that they have reviewed the <br />conditions of this permit and have agreed that they will comply with the terms of this permit. <br /> <br />PANTHER INVESTMENTS <br /> <br />By: <br /> Partner <br /> <br />By: <br /> Partner <br /> <br /> <br />