Agenda - Council - 05/23/2023 - Laserfiche WebLink

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15. Reductions to the Letter of Credit. With CITY approval, the irrevocable LOC may be reduced from time to time as financial obligations are paid. The PERMITTEE may request that the LOC or cash deposits be reduced at the following intervals: a. Pond cleaning portion of the LOC is retained until all homes within the development have been issued a full certificate of occupancy; b. Three site improvement reductions at least two months apart; c. Final streets is retained in full until completion of the final streets; d. One landscape reduction of 50% upon complete installation required per the approved landscape plan. 16. Payment of Development Fees. The PERMITTEE must pay to the CITY the fees described on Exhibit B that are not addressed in Section 14, which may include, but are not limited to Trail Development Fees, Sanitary Sewer Connection (Trunk) Fees, Water Connection (Trunk) Fees, Sanitary Sewer Lateral Fees, Water Lateral Fees, Storm Management Fees, Street Signage Fees, and Street Light Operation and Maintenance Fees. Street Cleaning and Clean Up. After the street surfacing that is a part of the Stage I Improvements is installed, the PERMITTEE shall clear any soil, earth, or debris from the streets. From time to time, the CITY may remove accumulations of soil, earth, and debris from the streets resulting from the construction of the Stage I Improvements. It shall be the PERMITTEE'S responsibility to pay the costs associated with this necessary street cleaning. Invoices from the CITY to the PERMITTEE for such costs shall be paid within fifteen (15) days of the date of the invoice. 17. Requirements for Building and Occupancy Permits. a. No building permit for any lot in the Plat shall be issued until the PERMITTEE has: (a) installed a Class 5 driving surface to within 300 feet of the structure; (b) provided the CITY Building Official with a Certificate of Survey; c.) the financial guaranty described in Section 12 to the CITY; and b. No occupancy permit for any lot in the Plat shall be issued until the PERMITTEE has: (a) constructed vehicular access to the lot, including the installation of at least one layer of bituminous surfacing; (b) constructed all utilities and storm water facilities this Agreement requires to serve the lot and such utilities and storm water facilities are in place, operational and accepted by the CITY; (c) for lots that have a slope of less than 2%, provided the CITY with a certificate of grading, prepared by a licensed (State of Minnesota) professional land surveyor, certifying that the flattest grade on the lot is 1 % or greater; and (d) installed and planted the sod and landscaping that are required as a part of the Stage I Improvements. 5