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<br />2021-07-12 Final Version 14 <br /> I. The Developer must obtain a sign permit from the City prior to installation <br />of any signs for the Development. <br /> J. Prior to the issuance of a land disturbance permit, the Developer shall <br />submit an operation and maintenance plan for the long-term care of all on-site and off-site <br />stormwater, sanitary sewer, and water main to the City for review and approval. <br /> K. Developer agrees that the Developer is responsible to construct, maintain, <br />plow and upkeep the trail(s) shown on the City approved site plan. <br /> L. Developer shall provide for the City Attorney to review and the City <br />Council to approve a Cross Parking Agreement with Bethel University, prior to executing this <br />Agreement. <br /> 29. SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance <br />with the terms of this Agreement, payment of the costs of all improvements, and construction of <br />all public and private improvements, the Developer shall, within sixty (60) days after execution <br />of this Agreement by City and Developer, furnish the City with a letter of credit issued by BMO <br />Harris Bank NA, in the form attached hereto, from a bank (“Security”) for $258,072.00. The <br />amount of the Security includes all of the security requirements set forth in the preceding <br />sections of this Agreement, and was calculated as follows: <br />CONSTRUCTION COSTS: <br />Erosion Control/Grading Certification $ 20,580.00 <br />Sidewalk $ 15,000.00 <br />Trail $ 118,378.00 <br /> CONSTRUCTION SUB-TOTAL $ 153,958.00 <br />OTHER COSTS: <br />Landscape $ 50,000.00 <br />Lot Corners/Iron Monuments $ 2,500.00