4G, Planning Case 11-011 – Select Senior Living of Arden Hills

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year of the City's appraval of the Development Agreement, construct a sidewalk on Lot 2 adjacent to Lexington Avenue within the sidewalk or pub�ic right-of way easement area. 2. Estunated Cost of Improvement. 125% of the Estimated Costs of the removal of tt�e bituminous, seeding ar sodding, and canstruction of the sidewalk sha11 be escrowed wiih ihe City as pro�vided hereinafter, as dei�rmiried by the Public Works Directar. 3. Securitv. The financial surety for the above Required Improvements sha11 be in a forn� acceptable to ihe City Attorney, and shail be in an amouni equal to 125% of the es�imaied cost of the Required Improvements. 4. Reduction of Securit . Upon completion of 1201 TAT's Rec�uired Improvements ar�d acceptance by ihe City, the City Cauncil shall reduce ihe arnount of sec�arity for t�e cornpleted iznprovements, provided that, in no case, shail the total remaining security be less than the 125% of the estixnated cost of t1�e incomplete improvements. D. Develo ment of Lot 2. Prior ta the issuance of building pernlits for Lot 2, 1201 TAT shall: Provide the City with a recorded copy af Restricted Covenants wluch guarantee access from Lot 2 to Lo# 1 and wluch describes the maintenance obligaiions of the party in regard to the drivang access area. 2. Trafif c Management shall be implemented ai the eastern most driveway, as illustrated in the June 27, 2011, report to the City Council, subjeci to the approval of the Public Works Direcior, to eff�ctively pxovide efficient and safe ingres� a�d egress to Loi 2. Traffic zxianagement devices may be installed at the time of Lot 2 developr�ent, subject io ihe approval of the Pubtic Works Direcior. 3. Upon future development of Lot 2, or wiihin t�n years from the date of the approval of this Development Agreement, whichever occurs first, the City may incorparate a civic feature inio the southeast corner of Lot 2. E. Future ImprovementslAssessments for the ,B-2 District Streetsca�e. The City anticipates constr�zcting streetscape improvements on County Road E, adjacent ta Lot 2. 1. 1241 TAT hereby agrees to waive its r�ght to appeal any special assessment levied against Lot 1 for streetscape improvements, associated wiih the imple�entation of the guiding plan for the B-2 District, provided that: a. Such special assessment does not exceed an amouni equal to $350 per lineal foot an County Road E; b. The Properry, subject to the terms of this Agreement, specially assess in the same nnanner as other simila,rly situaied properties; 3