Agenda - Council - 09/23/2025 - Laserfiche WebLink

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PERMITTEE must provide the CITY with copies of all necessary permits from other governmental agencies prior to or when the PERMITTEE applies for a building permit to construct improvements on a lot within the Plat. Within thirty (30) days after the completion of the Stage I Improvements, the PERMITTEE shall provide the CITY with a complete set of reproducible "As Built" plans for the Stage I Improvements. 7. Time of Performance for the Stave I Improvements. The PERMITTEE must complete the Stage I Improvements within one (1) year after the recording of the Plat. 8. Ownership of the Stave I Improvements. The PERMITTEE owns the Stage I Improvements until the CITY'S acceptance of the Stage I Improvements. Title to the Stage I Improvements automatically passes to the CITY upon the CITY'S written acceptance of the Stage I Improvements. Except to the extent the CITY has accepted all or portions of the Stage I Improvements, in writing, prior to the lapse, expiration, or other termination of the CITY'S financial guaranty described in Section 11 and except to the extent the CITY and the PERMITTEE may agree, in writing, to defer the CITY'S acceptance of certain specified Stage I Improvements, the CITY is deemed to have accepted the Stage I Improvements when the CITY releases the financial guaranty described in Section 11 or allows such financial guaranty to lapse, expire or otherwise terminate. 9. Stave I Improvements License. The PERMITTEE hereby grants the CITY and the CITY'S agents, employees, officers, and contractors an irrevocable license to enter the Subject Property to perform all necessary work and/or inspections the CITY deems appropriate during the PERMITTEE'S installation of the Stage I Improvements. The license shall expire after the CITY accepts ownership of Stage 1 Improvements. 10. Stave 11 Improvements. The public improvements the PERMITTEE must construct or install are as follows: a. Installation of survey monumentation. (the "Stage II Improvements"). The PERMITTEE must complete the construction of the Stage II Improvements within one (1) year after the date upon which the Plat is recorded. PERMITTEE must install the Stage TT Improvements in accordance with the Plans, excluding the street and traffic control signs, which will be installed by the CITY. 11. Financial Guaranty for Stave 1 Improvements, and Stave II Improvements. The PERMITTEE shall provide a financial guaranty (the "Financial Guaranty") to the CITY guaranteeing the construction of the Stage I Improvements and Stage 11 Improvements, as well as their timely completion. The PERMITTEE shall be responsible for a Financial Guaranty in the amount of One Hundred Eighty - Five Thousand Two Hundred Twenty -Six Dollars and No Cents ($185,226.00), which amount is 125% of the CITY Engineer's estimated cost of the Stage I and Stage II Improvements, including the thirty-four (34) trees in Outlot A, and 25% of the Engineer's estimated cost of grading. 12. Inspection Escrow for the Stave I and Stave II Improvements. The PERMITTEE shall provide an inspection escrow to the CITY to inspect the Stage I Improvements and Stage II Improvements. The PERMITTEE shall be responsible for an inspection escrow in the amount of Seven Thousand Four Hundred Nine Dollars and No Cents ($7,409.00) which amount is 5% of the City Engineer's estimated cost of the Stage T Improvements and Stage II Improvements. The inspection escrow 3