Agenda - Council - 01/26/1988 - Laserfiche WebLink

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IN WITNESS WHEtLEOF, day of 1. IMPR~- The Developer shall be responsible for the construction of improvements as shown on the final plat and as directed by the City Engineer, in accordance with City standards 'and specifications. These improvements shall include, but are not limited to: the construction of Barium Street N.W. and 180th Avenue N.W. including related ditches, grading, backsloping and drainage. The Developer shall he responsible for any expense associated with the construction of these improvements. The Developer shall restore all disturbed areas as specified by the City Engineer. The location and specifications for the improvements shall be as shown on the attached plans, which plans are attached hereto as Exhibit "A". 2. FINANCIAL GUARANTEE. The Developer shall provide a financial guarantee for the construction of these improvements. This guarantee shall be in the form of cash or City approved letter of credit in the amount of $ .__which amount represents 125% of the Engineer's estimated cost for such improvements. In addition to the letter of credit, the Developer shall post a maintenance guarantee for these improvements in the amount of $ .00. This security shall be deposited with the City in the form of cash escrow or letter of credit in a form to be acceptable to the City. This security shall he held by the City for one (1) year from the date of final acceptance of the improvements. 3. PARKLAND DEDICATION FEE. The Developer shall pay the City's required park dedication fee in accordance with the current City Code requirements. 4. VARIANCE TO LOT SIZE. The Developer is granted a variance to the lot size of Lot 9, Block 1. 5. VARIANCE TO ACCESS ON COUNTY ROAD. The Developer is granted a 'variance for Lot 2, Block 2 to access directly on to County Road. No. 7. 6. GR~ING A5~ DRAINAGE PLAN. The Developer shall comply with the drainage and grading plans attached hereto and incorporated herein. as Exhibit "B", which plans shall be approved by the City Engineer. 7. STAGE II IMPROVEMENTS. The Developer shall be required to complete Stage II improvements (seal c. oating) as provided in Section 170.03 of the City Code. In addition, the Developer shall provide a financial guarantee to the city for these improvements. This guarantee shall be in the form of an escrow or City approved letter of credit in the amount of $ .__. This escrow shall be provided to the City prior to issuance of any certificates of occupancy for any lot in the plat. the parties have executed this instrument this the , 198__.