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187027v7 <br /> C. Required Permits. The Developer shall obtain all necessary permits, including, <br />but not limited to, NPDES, Rice Creek Watershed District, Ramsey County, and City Grading <br />and Erosion Control Permits. Copies of all necessary permits shall be submitted to the City prior <br />to the issuance of any development permits. <br /> D. Dewatering. Due to the variable nature of groundwater levels and stormwater <br />flows, it will be the Developer’s and the Developer’s contractors and subcontractors <br />responsibility to satisfy themselves with regard to the elevation of groundwater in the area and <br />the level of effort needed to perform dewatering and storm flow routing operations. All <br />dewatering shall be in accordance with all applicable county, state, and federal rules and <br />regulations. <br /> E. License. The Developer hereby grants the City, its agents, employees, officers <br />and contractors a license to enter the Property to perform all work and inspections deemed <br />appropriate by the City in conjunction with the development. <br /> F. Clean Up. The Developer shall clean dirt and debris from streets that has resulted <br />from construction work by the Developer, subcontractors, their agents or assigns. Prior to any <br />construction, the Developer shall identify in writing a responsible party and schedule for erosion <br />control, street cleaning, and street sweeping. <br /> G. Security. The Developer shall submit a financial surety in the amount of 125 <br />percent of the estimated costs of landscaping prior to the issuance of any development <br />permits. The financial surety shall be in the form of a letter of credit issued by a FDIC-insured <br />Minnesota bank. The purpose of the letter of credit is to ensure that landscaping is completed in <br />the event that the Developer defaults on this Agreement. The City will hold the letter of credit for <br />two years after the installation of landscaping. The letter of credit should not expire during the <br />two-year period. <br />H. Binding Effect. The terms and provisions of this Agreement shall be binding <br />upon and inure to the benefit of the heirs, representatives, successors and assigns of the parties <br />hereto and shall be binding upon all future owners of all or any part of the Property. This <br />Agreement, at the option of the City, shall be placed of record so as to give notice thereto to <br />any subsequent purchasers and encumbrances of all or any part of the Property and all <br />recording fees, if any, shall be paid by the Developer.