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tnt) Certificate of Occupancy for the structure will be issued until the Required <br />hnprovements, or a financial surety fore,same, are accepted by the City. <br /> <br />IMPROVEMENT CONSTRUCTION SCHEDULE. The Required Improvements <br />shall be completed betbre November 7, 2006. <br /> <br />RECOGNITION OF LOCATION. The Permittee herein agrees to recognize Ramsey <br />as thc City of location on all forms of advertising and business correspondence whenever <br />reasonably prudent to do so. <br /> <br />FINANCIAL SURETY. In order to ensure the installation Of the Required <br />Improvements in accordance with City specifications and in a timely manner, the <br />l'crmittee shall be required to deposit with the City a cash escrow or letter of credit, <br />approved as to form by the City, in the amount of Five Hundred Dollars and no cents <br />($500), which is 150% of the City's estimated cost of the Improvements. Prior to the <br />issuance of the building permit, all financial guarantees must be provided as required <br />herein. <br /> <br />Upon completion of the construction of the Required Improvements, the financial <br />guarantee shall be returned to the Permittee and the Permittee shall be required to provide <br />thc landscaping maintenance guarantee described in Item #12 of this Development <br />Permit. The determination of completion of the construction of the Required <br />hnprovements shall be made by the City Council after consultation with the City <br />tmgineer. In the event the Permittee fails to construct and install the Required <br />hnprovements as required herein, the City Council may order the completion of the <br />Required Improvements with City day labor and/or by letting contracts for said <br />completion and draw upon the escrow for payment. Only the City Council shall have the <br />authority to direct completion of the Required Improvements and withdraw from the <br />escrow account. The Permittee hereby grants permission and a license to the City and/or <br />its contractors and assigns to enter upon the Site for the purpose of completing the <br />construction and installation of the Required Improvements in the event of the <br />I' erm ittee' s default <br /> <br />MAINTENANCE GUARANTEE FOR LANDSCAPING. It is herein agreed that the <br />Permittee shall provide a maintenance guarantee to ensure the survival of the plantings. <br />Sztict maintenance guarantee shall consist of cash or a letter of credit, approved as to form <br />by thc City, in the amount of Ninety Dollars and no Cents ($90) [# plantings (2 trees or 4 <br />shrubs, depending on permittee) x cost/planting ($150/tree, $75/shrub) x 30% average <br />non-survival rate], which shall be in effect for a two-year period commencing on the date <br />{>/' thc City's acceptance of said plantings as part of the Required Improvements. <br /> <br />At the end ol' the two-year period, the maintenance guarantee shall be returned to the <br />l'crmittee. The determination that all plantings that have been planted in accordance with <br />thc 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 />l'ermittee 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 />;~nd draw upon the escrow for payment. Only the City Council shall have the authority to <br /> <br /> <br />