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ARDEN HILLS PLANNING COMMISSION January 8, 20149 approv least 45 days prior to the expiration date. 4. The applicant shall submit a financial surety in the amount of 125 percent of the estimated costs of site improvements including grading, utilities, and paving, prior to the issuance of a grading and erosion control permit. The financial surety shall be in the form of a letter of credit issued by a FDIC-insured Minnesota bank, and be in a form acceptable to the City. The purpose of the letter of credit is to ensure that site improvements are completed in the event that the developer defaults on the Development Agreement. 5. The applicant shall submit a cash escrow in the amount of 25 percent of the estimated costs of site improvements including grading, utilities, and paving, prior to the issuance of a grading and erosion control permit. The escrow will be used for City costs related to review, approval, and inspection of site improvements or any costs incurred by the City in the event of a developer default. 6. The applicant shall submit a financial surety in the amount of 125 percent of the estimated costs of landscaping prior to the issuance of a grading and erosion control permit. The financial surety shall be in the form of a letter of credit issued by a FDIC- insured Minnesota bank. The purpose of the letter of credit is to ensure that landscaping is completed in the event that the developer defaults on the Development Agreement. The City will hold the letter of credit for two years after the installation of landscaping. The letter of credit should not expire during the two-year period. 7. The applicant shall submit a cash escrow in the amount of 25 percent of the estimated costs of landscaping prior to the issuance of a grading and erosion control permit. The escrow will be held by the City for two years after installation of landscaping and used for City costs related to review, approval, and inspection of landscaping, or developer default. 8. The applicant shall complete a sidewalk segment along the north side of County Road E from Lexington Avenue to the easterly driveway into 1201 County Road E. The City is currently holding $50,000 in escrow from the property owner for the completion of sidewalk improvements by the City along the entire length of the 1201 County Road E property. The City will return a portion of this escrow to the applicant based on a calculation of the estimated cost for the City to complete the remaining sidewalk between the easterly driveway and the western border of the 1201 County Road E property. 9. The plans shall be subject to Fire Marshall and Ramsey County Sheriff approval prior to the issuance of a building permit. 10. A lighting and photometric plan shall be reviewed and approved by the City and the Ramsey County Sheriff prior to issuance of a building permit. 11. Upon completion of grading and utility work on the site, a grading asbuilt and utility asbuilt shall be provided to the City for review. 12. The applicant shall provide the City with a copy of the NPDES construction permit required for the site. 13. The applicant shall acquire a Right-of-Way permit from Ramsey County for any work completed in the County Road E and Lexington Avenue Right-of-Way. 14. A fire hydrant shall be located within 150 feet of F.D.C. 15. A Fire Department lock box shall be provided on the site. 16. All spandrel glass used on the retail building shall be light grey or other color that closely matches the appearance of the transparent glass being used.