Agenda - Council - 07/14/2026 - Laserfiche WebLink

Home

(4) The Developer will provide and maintain or cause to be maintained at all times and, from time to time at the request of the City, furnish the City with proof of payment of premiums on insurance of amounts and coverages nonnally held by owners of property similar to the Project. (5) The Developer shall prepare, utilize in its contract with the General Contractor and all subcontracts, and enforce the Subcontractor Addendum, in substantially the form attached as Exhibit C hereto, which outlines fair labor law compliance, and allows general contractor to withhold payment or cancel contract if violations are discovered. (6) The Developer shall prohibit use of all disqualified contractors listed on the Minnesota State "Suspended/Debarred Vendor Detailed Information" website; review such list prior to construction commencement with respect to each subcontractor; and remove any subcontractor added to the list prior to construction commencement. (7) The Developer and all contractors and subcontractors shall comply with all federal, state, and local labor laws. (8) If a third -party files a claim with the Minnesota Department of Labor (the "Department") regarding any contractor or subcontractor doing work on the Development Property, the Developer shall fully cooperate with the Department immediately upon receipt of notice of such claim, including taking any action required by the Department or that Developer otherwise elects to take. The Developer shall also fully enforce the contracts with the General Contractor and subcontractors, including enforcing and requiring the General Contractor to enforce the Subcontract Addendum. (9) The Developer shall use its best efforts and take all reasonable steps in order to cause the General Contractor to use and enforce the Subcontract Addendum with all subcontractors, and shall require the General Contractor and all subcontractors to cooperate with the Department regarding any claim filed with the Department, including taking any action required by the Department or that the Developer otherwise elects to take. (10) The Developer shall certify to the City that, to the best of the Developer's knowledge, after due inquiry and review of documentation supplied to the Developer, proper payments to all contractors, subcontractors and project laborers have been paid prior to the issuance of a certificate of completion and as a prerequisite to receipt of the TIF Note or other assistance, provided that in the event the Developer disputes a lien, the Developer may bond over or establish an escrow account to protect against the lien on terms acceptable to the City. (11) The Developer acknowledges that failure to comply with this Section will be an Event of Default in accordance with Section 4.1 hereof. In addition to the remedies provided to the City pursuant to Section 4.2 hereof, if after issuing the TIF Note, the City discovers that the Developer has failed to comply with this Section 3.7, the Developer agrees to repay to the City all of the payments it has received under the TIF Note to date. 10 300384045v3