10-23-17-R - Laserfiche WebLink

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6 194483v5 after the installation of landscaping. The letter of credit should not expire during the two-year period. C. Escrow. The Developer shall submit a cash escrow in the amount of 25 percent of the estimated costs of public infrastructure 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 public infrastructure improvements or any costs incurred by the City in the event of a Developer default. D. Required Permits. The Developer shall obtain all necessary permits, including, but not limited to, NPDES, Rice Creek Watershed District, Ramsey County and City Right of Way, and City grading and erosion control permits. Copies of all necessary permits shall be submitted to the City prior to the issuance of any development permits. 5. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns, including without limitation, any and all future and present owners, tenants, occupants, licensee, mortgagee and any other parties with any interest in the Property. 6. LIMITATION OF LIABILITY. Notwithstanding anything in this Agreement to the contrary, the liability of Developer shall be limited to its ownership of the Property. Upon sale or conveyance of any portion of the Property, the transferee shall be liable for all obligations of Developer, which relate to the portions of the Property so transferred and the transferor shall be automatically released from any further obligation, liability, right or responsibility in respect to such transfer. Moreover, nothing herein shall be construed to create a cause of action on behalf of the City against Developer with respect to its business operations beyond the obligations set forth herein relating to the development and maintenance of the Property.