Agenda - Council - 04/14/1981 - Laserfiche WebLink

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in a form acceptable to developer and must be issued by the City prior to the issuance of a building permit for such lot conveyed. This requirement shall terminate upon the earlier of the following dates: The filing in the office of the Anoka County Recorder of a certified copy of a resolution by the City of Ramsey that the plat of Flintwood Hills Second Addition is in compliance with this Performance Contract, or June 1, 1986. The deposits described in this paragraph 4 shall not be required for any conveyance of lots in said plat by Developer to any other entity in which Developer has a controlling ownership interest. The City agrees to reduce the amount of the performance bonds required pursuant to paragraph 3 herein in an amount equal to the amount deposited in escrow pursuant, to this paragraph. 5. Further, the Developer shall pay to the City all expenses of the City for the preparation of any plans and specifications prepared by the City and not furnished by Developer for the said improvements, and that said payment shall be made to the City in advance based upon the City cost estimates of the City Engineer. The said payment shall also include the inspection costs of the City for its costs in inspecting the construction of the aforesaid improvements by the City Engineer. The Developer shall also pay to the City any legal expenses incurred which relate to the required improvements. 6. IT IS FURTHER AGREED, that should any of the aforesaid terms of this agreement fail to be performed by the Developer in the time permitted herein, or in the manner required by the City ordinances and the City Engineer, that the City shall be e~titled to recover from the Deveioper and its surety agents on demand by the City ~he amount of the outstanding performance bond named in paragraph 3 above, which amount. may be reduced pursuant to paragraph 4 above, and that the -4-