Agenda - Council - 09/10/2024 - Laserfiche WebLink

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Improvements, after acceptance by the CITY. The PERMITTEE shall provide an updated Engineer's Estimate supporting each request for a reduction of the Financial Guaranty. Upon completion of the construction of all the Required Improvements, including the removal of "temporary" erosion control measures as identified in the Plans, and acceptance by the CITY, supported by appropriate lien waivers, the Financial Guaranty shall be returned to the PERMITTEE and the PERMITTEE shall be required to provide the landscaping maintenance guaranty described in Section III Paragraph 11 of this Agreement. The determination of completion of the construction of the Required Improvements shall be made by the CITY. In the event the PERMITTEE fails to construct and install the Required Improvements as required herein, the City Council may order the completion of the Required Improvements with CITY day labor and/or by letting contracts for said completion and draw upon the escrow for payment. Only the City Council shall have the authority to direct completion of the Required Improvements and withdraw from the escrow account. The PERMITTEE hereby grants permission and a license to the CITY and/or its contractors and assigns to enter upon the Subject Property for the purpose of completing the construction and installation of the Required Improvements in the event of the PERMITTEE's default. 9. Inspection Fees. The PERMITTEE shall be responsible for all inspection costs incurred by the CITY related to the installation of Required Improvements. The PERMITTEE shall make a cash deposit into the appropriate escrow account at the CITY and the CITY shall have the authority to draw upon these funds for the purpose of compensating for inspection services. The amount of the deposit shall be equal to five percent (5%) of the estimated cost of the Required Improvements, which equates to Thirty One Thousand Two Hundred Fifty Dollars and No Cents($31,250.00)(5%x$625,000.00). Upon completion of the Required Improvements to the satisfaction of the CITY, any surplus balance remaining in the CITY's escrow account shall be refunded to the PERMITTEE. SECTION II PERMITS AND OCCUPANCY 10. Requirements for Building Permit. a. No building permit 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.) submitted the Financial Guaranty described in Section I Paragraph 8 to the CITY; d.) obtained all necessary permits from the Lower Rum River Watershed Management Organization and has provided a copy of such permit to the CITY; and b. No occupancy permit 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 Subject Property 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. Diamond Graphics Development Agreement Page 3 of 7