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ARDEN HILLS CITY COUNCIL – OCTOBER 31, 2016 7 4. A Development Agreement shall be prepared by the City Attorney and subject to City Council approval. The agreement shall be executed prior to the issuance of any development permits. 5. Prior to the issuance of any development permits, a copy of all necessary supplemental declarations between MedExpress and Arden Plaza, LLC addressing site operation issues, including but not limited to driveway maintenance, shared parking, and drainage, shall be provided to the City. 6. The Developer 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 any development permits. 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. 7. The Developer 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 any development permits. 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. 8. The Developer shall submit a financial surety in the amount of 125 percent of the estimated costs of landscaping prior to the issuance of any development permits. 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. 9. The Developer shall submit a cash escrow in the amount of 25 percent of the estimated costs of landscaping prior to the issuance of any development permits. 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. 10. Final construction plans shall be subject to approval by the Building Official and Fire Marshall prior to the issuance of a Building Permit. 11. The Developer shall provide the City with a copy of the Rice Creek Watershed District permit for the project prior to the issuance of any development permits. 12. A Grading and Erosion Control Permit will be required prior to the issuance of a Building Permit. The Developer shall be required to demonstrate that the existing stormwater system for Arden Plaza is adequate to accommodate the additional runoff that will result from the development. 13. The Developer shall obtain a Right-of-Way Permit from Ramsey County for any construction work required for the development within the County Road E right-of-way. 14. The building shall be permitted no more than a total of 150 square feet of wall signage. 15. All roof-mounted mechanical equipment shall be screened from ground-level view of public streets. Wood screening shall not be permitted. 16. Trash service enclosure shall be fully enclosed and constructed with the same brick fiber cement panel used for the principal structure. 17. All spandrel glass used on the building shall be light grey or other color that closely matches the appearance of the transparent glass being used.