Agenda - Council - 08/18/1981 - Special

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CITY OF RAMSEY AGREEMENT TO GUARANTEE COMPLIANCE WITH DEVELOPMENT CONDITIONS ESTABLISHED BY THE CITY OF RAMSEY This Agreement between Super Bowl, Inc., hereinafter referred to as "Applicant" and the City of Ramsey, hereinafter referred to as "City" entered into this day of August 1981, as per the following: Intent and Purpose To assure that the conditions of approval established by the City of Ramsey for all commercial and industrial developments are understood between the Applicant and the City and that the Applicant complies fully with conditions and time frames as established by this agreement and plans and specifications as submitted by the Applicant. Legal Description of Property: The property is legally described as Lots 1, 2, 6, and 7, Block 4, Riverside West, and is generally known as 6720 - 138th Avenue NW. Zoning at the Date of Agreement Execution: B-i, Business Approved Use of the Property: Business and Retail Sales Conditions of Agreement: 1) Applicant shall submit to the City two complete sets of plans as corrected and approved by the Building Official. 2) Applicant shall complete his building prior to January 1, 1982 and his landscaping and other site work per his approved drawings prior to October 15, 1981. 3) Applicant shall deposit with the City a cashier's check, irrevocable letter of credit, performance bond, or other suitable security acceptable to the City of Ramsey in the amount of 150% of the cost of completing all landscaping improvements to include blacktopping and striping: Amount of escrow shall be: $10,000 4) Applicant understands and agrees that failure to comply with the terms of this agreement shall result in the for- feiture of the Applicant's financial guarantee.