Agenda - Council - 08/14/2007 - Laserfiche WebLink

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associated with this necessary street cleaning. Invoices from the CITY to the DEVELOPER for such costs shall be paid within fifteen (15) days of the date of invoice. 15. Time of Performance The DEVELOPER shall install all Required Improvements by January 1, 2009. The DEVELOPER may, however, request an extension of time from the CITY. If an extension is granted, it shall be conditioned upon updating the security posted by the DEVELOPER to reflect cost increases. 16. Ownership of Improvements Upon the completion of the work and construction required to be done by this Agreement, the Improvements lying within public easements shall become CITY property without further notice or action. 17. Landscaping a. Compliance With Plans The DEVELOPER shall install the streetscape, including sidewalk, along Rhinestone Street N.W. in accordance with the Landscape Plan prepared by URS and dated July 13, 2007. The sidewalk shall extend from the south boundary of Lot 1, Block 1, Ramsey Town Center 13' Addition to Sunwood Drive.. The landscaping shall be accomplished in accordance with a time schedule approved by the CITY. b. Ma intenance Guarantee for Land scaping. The DEVELOPER shall provide a maintenance guarantee to ensure the survival of the streetscape plantings in the Plat. Said maintenance guarantee shall consist of cash or a Letter of Credit, approved as to form by the CITY, in the amount of four hundred five Dollars and No Cents ($405.00) [required plantings 9 trees) x cost/planting ($150 /tree, $75 /shrub) x 30/o average non - survival rate], which guarantee shall be in effect for a two -year period commencing on the date of the CITY's acceptance of said plantings. The DEVELOPER shall be required to establish with the CITY an escrow to secure payment of said $405.00 (the "Landscaping Escrow"). At the end of the two -year period, the maintenance guarantee shall be returned to the DEVELOPER. The determination that all plantings that have been planted in accordance with the approved Landscape Plan have either survived or have been replaced shall be made by the Community Development Department. In the event the DEVELOPER fails to maintain the required plantings for a two -year period, the CITY Council may order the replacement of plantings with CITY day labor and/or by letting contracts and draw upon of the crow for payment. Only the CITY Council shall have the authority to direct replacement and withdraw from the escrow account. The DEVELOPER hereby grants permission and a license to the CITY and/or its contractors and e s ig VELOPER'S defaul Subject Property for the purpose of replacing plantings m the event of th Minimizing the impact of construction on trees in accordance with Minnesota Extension Service publication "Protecting Trees From Construction Damage" (Publication 4NR -FO- 6135 -S). 18, License The DEVELOPER hereby grants the CITY, its agents employees, officers and contractors, a license to enter the Plat to perform all necessary work and/or Ramsey Town Center 13th Addition Development Agreement Page 6 of 12 Pages —129—