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b. Marketable Title. That prior to commencing grading activities, the <br />PERMITTEE shall provide the CITY with proof of marketable title to <br />the Subject Property either through a currently certified abstract, registered <br />property abstract or title insurance commitment or policy. <br />c. Proof of Authority. That the PERMITTEE provide proof that the <br />respective governing boards of the PERMITTEE have authorized the <br />PERMITTEE'S execution of this Agreement. This proof of authority <br />may be satisfied by providing the CITY with a certified copy of the <br />minutes of the governing board of each entity which grants such authority. <br />d. Metropolitan Council Approval of a Comprehensive Plan Amendment. On <br />August 24, 2021, the Ramsey City Council approved a Comprehensive <br />Plan Amendment for the Subject Property, contingent upon approval by <br />the Metropolitan Council. On November 1, 2021, the Community <br />Development Committee for the Metropolitan Council unanimously voted <br />to move the Amendment forward to the Metropolitan Council for approval <br />on November 10, 2021. <br />e. Lower Rum River Watershed Management Organization Stormwater <br />Permit Approval. The PERMITTEE shall provide the CITY a copy of <br />the approved Stormwater Water Permit from the Lower Rum River <br />Watershed Management Organization (LRRWMO) prior to commencing <br />grading activities. This is scheduled for consideration by the LRRWMO <br />on November 18, 2021. <br />3. The Plans. Final grading plans must be approved by the City Engineer. <br />4. Improvements. The improvements the PERMITTEE will construct or install are <br />as follows: <br />Preliminary Grading (the "Improvements") . <br />5. Improvement Financial Guarantee. The PERMITTEE shall provide a financial <br />guarantee to the CITY guaranteeing the construction of the Improvements and their <br />timely completion. The CITY shall require a financial guarantee in the amount of <br />thirty percent of the grading estimate. The PERMITTEE shall be responsible for <br />a financial guarantee in the amount of Two Hundred Three Thousand Thirty Dollars <br />and No Cents ($203,030.00) which is 30% of the $676,765.50 grading estimate <br />provided by the PERMITTEE. <br />6. Inspection Fees for the Improvements. The PERMITTEE shall provide an <br />inspection fee to the CITY to inspect the Improvements. The PERMITTEE shall <br />be responsible for an inspection fee in the amount of Thirty Three Thousand Eight <br />Hundred Thirty Eight Dollars and No Cents ($33,838.00) which is 5% of the <br />$676,765.50 grading estimate provided by the PERMITTEE. <br />2 <br />