Laserfiche WebLink
<br />Development Permit, and the Development Agreement, subject to the . <br />terms and conditions contained herein. <br /> <br />3.00 Terms and Conditions. In reliance upon the representations contained herein <br />and in consideration of the mutual undertakings herein expressed, the parties <br />agree: <br /> <br />A. Construction of Improvements. Building improvements, including the Park <br />Building as hereinafter referenced, shall be constructed in compliance with <br />building plans and specifications which have been reviewed and approved <br />by the City's building inspector. Traffic improvements for Phases I, II and <br />III, as defined in the PUD Master Plan, shall be constructed in compliance <br />with plans and specifications which have been reviewed and approved by <br />the City's consulting engineer for each phase and, where appropriate, by <br />the Ramsey County engineer and/or the Minnesota Department of <br />Transportation engineer. The traffic improvements for Phase I and the <br />anticipated construction schedule for such improvements are attached as <br />Exhibit 0-1. The traffic improvements for Phases II and III, upon approval <br />by the City and other appropriate parties on a future date, will be attached <br />and incorporated respectively as Exhibits D-2 and D-3. <br /> <br />1. <br /> <br />Phase I Traffic Improvements. Except as provided herein, Phase I <br />traffic improvements shall be completed prior to the issuance of <br />occupancy permits for any Phase I buildings. The following Phase I <br />traffic improvements shall be completed by December 31,2003, <br />and shall be subject to the following conditions: <br /> <br />(a) Improvement/Estimated Cost of Improvement. <br /> <br />. <br /> <br />Imorovement <br /> <br />Estimated Cost <br /> <br />Reconstruction of Cummings <br />Park Drive <br /> <br />$350,000.00 <br /> <br />Installation of Traffic Signal <br />Cummings Park DrivelLexington $250.000.00 <br /> <br />Total Estimated Cost: <br /> <br />$600.000.00 <br /> <br />(b) Amount of Imorovement Securitv. Prior to the City's <br />endorsement of approval on the final plat, Guidant .shall <br />deposit security with the City Administrator in an amount <br />equal to 125% of the engineer's estimate of the cost of <br />constructing the traffic improvements, defined above, which <br />have not been completed and accepted by the City prior to <br />final plat approval. The security may be in the form of a <br /> <br />. <br /> <br />2 <br />