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Ordinance 2010-010 DRAFT: 1/5/2011 2. The proposed starting and completion dates for the construction and any required environmental remediation. 3. The applicant shall submit documentation demonstrating that the PUD Final Plan is in conformance with the PUD Master Plan and each of the components in Section 1325.135 Subdivisions 5 through 15. C. Land Use Application Complete. The PUD Final Plan application shall be considered complete once all required application and documentation required in Subdivisions 5 through 15 are submitted and deemed complete by the City. D. Development Agreement and Bonding. 1. A development agreement and corporate surety are required at the time of PUD Final Plan approval by the City Council to assure that all improvements to be constructed as part of the approved PUD Final Plan and any required environmental remediation are completed in accordance with the terms and conditions of such plan, or each stage thereof as outlined in the construction staging component. The bond shall guarantee in a penal sum equal to one hundred twenty-five (125) percent of the cost of such improvements as estimated by the City. The development agreement and bond shall be filed with the administrator no later than sixty (60) days after PUD Final Plan approval. 2. The development agreement may provide for several bonds covering separate aspects of the PUD, the aggregate of which shall total one hundred twenty-five (125) percent of all the improvements to be constructed and completed by the applicant pursuant to the approved PUD Final Plan. In this case, each bond required by the development agreement shall be filed no later than sixty (60) days after PUD Final Plan approval. It may also require guarantee bonds in the penal sum of one hundred (100) percent of the cost of completed improvements, as estimated by the City Engineer to guarantee such improvements for whatever lengths of time are specified therein. The release of any bond or any portion thereof shall either be governed by the terms and provisions of the development agreement or shall be based upon the recommendation of the City Engineer or City Planner and approval by the City Council. 3. If the applicant fails to enter into a development agreement and to file the corporate surety bond with the administrator by the expiration of the sixty day period, the PUD Permit, Final Plat (if any) and approved PUD Final Plan shall be deemed void, nullified and revoked Page 49 of 51