Agenda - Council - 08/23/2005 - Laserfiche WebLink

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13. 14. and assigns to enter upon the Site for the purpose of completing the construction and installation of the Required Improvements in the event of the Permittee's default MAINTENANCE GUARANTEE FOR LANDSCAPING. It is herein agreed that the. I>ermittee shall provide a maintenance guarantee to ensure the survival of the plantings. Said maintenance guarantee shall consist of cash or a letter of credit, approved as to form by the City, in the amount of Five Thousand Two Hundred Thirty-Five Dollars and no cents $5,235.00 [# plantings (65 trees, 219 shrubs) x cost/planting ($100/tree, $50/shrub) x '30% average non-survival rate], which shall be in effect for a two-year period commencing on the date ol' the City's acceptance of said plantings as part of the Required Improvements. At the end of the two-year period, the maintenance guarantee shall be returned to the Permittee. Thc determination that all plantings that have been planted in accordance with the Site Plan and Landscaping Plan have either survived or have been replaced shall be made by the City Council af'tcr consultation with the City Engineer. In the event the Permittee fails to maintain the required plantings for a two-year period, the City Council may order the replacement of plantings with City day labor and/or by letting contracts and draw upon the escrow for payment. Only the City Council shall have the authority to direct replacement of the plantings and withdraw from the escrow account. The Permittee hereby grants permission and a license to thc City and/or its contractors and assigns to enter upon the Site for the purpose of replacing plantings in the event of the Permittee's default. INSPECTION FEES. The Permittee shall be responsible for all inspection costs incurred by thc City related to the installation of the Required Improvements. The Permittee shall make a cash deposit into the appropriate escrow account at the City and the City shall have the / authority to draw upon these funds for the purpose of compensating for inspection services. Thc amount of the deposit shall be equal to five percent (5%) of the estimated cost of the Required Improvements, which equates to Four Thousand One Hundred Ninety:Five Dollars and no cents ($4,195.00). This is to cover the cost of inspecting the site grading and installation of improvements. Upon completion of the Improvements to the satisfaction of the City, any surplus balance remaining in the City's escrow account shall be refunded to the ['erm ittee. STORMWATER MANAGEMENT FEES. The current Stormwater Management Fee is $3,835.00 per commercial area. Stormwater management fee obligations for the Development are Ten Thousand Five Hundred Eight Dollars and no cents ($10,508.00) (2.74 acres x $3,835.00/lot). OUTSIDE REGULATORY AGENCIES. The Permittee herein agrees to 'be responsible [bt obtaining all required permits or licenses from any other regulatory agencies.