Agenda - Council - 07/08/2025 - Laserfiche WebLink

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SECTION II DEVELOPMENT FEE INFORMATION The Subject Property is being platted as buildable lot of record through the "Bunker Lake Crossing" plat. Capital Real Estate, the entity applying for the plat, is responsible for all platting and development fees. These fees are listed in a separate Development Agreement for the "Bunker Lake Crossing" plat. SECTION III 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) the financial guaranty described in Section I Paragraph 8 to the CITY; and (d) obtained all necessary permits from the Lower Rum River Watershed Management Organization and has provided a copy of such permit to the CITY, if applicable; 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; and (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. SECTION IV ON -SITE LANDSCAPING 11. Maintenance Guaranty for Landscaping. It is herein agreed that the PERMITTEE shall provide a maintenance guaranty to ensure the survival of the plantings. Said maintenance guaranty shall consist of cash or an irrevocable letter of credit, approved as to form by the CITY, in the amount of Three Thousand Five Hundred Seventy -Seven Dollars and No Cents ($3,577.00) [# plantings (28 trees and 47 shrubs) x cost/planting ($300/tree and $75/shrub) x 30% average non - survival rate], which shall be in effect for a two (2) year period commencing on the date of the CITY's written acceptance of said plantings as part of the Required Improvements. At the end of the two (2) year period, the PERMITTEE shall contact the CITY to schedule a final inspection of the landscaping. The determination that all plantings that have been planted in accordance with the Plans have either survived or have been replaced shall be made by the CITY. Upon approval of the final landscape inspection by the CITY, the maintenance guaranty shall be returned to the PERMITTEE. In the event the PERMITTEE fails to maintain the required plantings for a two (2) year period, the City Council may order the replacement of plantings with CITY day labor and/or by letting contracts and draw upon the escrow for payment. Only the City Council shall have the authority to direct replacement of the plantings 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 replacing plantings in the event of the PERMITTEE default. Marvin Development VII, LLC (Taco Bell) Development Agreement Page 4 of 8