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<br />The development agreement may provide for several bonds covering separate <br />aspects of the PUD, the aggregate of which shall total one hundred twenty- <br />five (125) percent of all the improvements to be constructed and completed by <br />the permittee pursuant to the approved Final Plan, in which case each said <br />bond required by such development agreement shall be filed along therewith <br />within the period above-stated. It may also require guarantee bonds in the <br />penal sum of one hundred (100) percent of the cost of completed <br />improvements, as estimated by the City Engineer to guarantee such <br />improvements for whatever lengths of time are specified therein. The release <br />of any bond or any portion thereof shall either be governed by the terms and <br />provisions of such development agreement or shall be based upon the <br />recommendation of the City Engineer or City Planner and approval thereof by <br />the City Council. <br /> <br /> <br />City of Arden Hills Chapter 13 Zoning Code <br /> <br />C. Open Space Easements and Covenants. To assure the City of the <br />continued maintenance of any open space, recreational areas, common areas <br />and the like which are proposed to be owned and maintained by a <br />homeowners' association to be formed by the permittee [and that said areas] <br />will not be devoted to purposes other than those for which they were <br />originally intended, the City Council may require at the time of its approval of <br />the Final Plan or its approval of any final plat required thereby, whichever is <br />later, that the permittee execute and grant to the city open space easements <br />and covenants, approved by the City Council at the time such requirement is <br />made, which shall be filed by the permittee within thirty (30) days after the <br />City Council has made such requirements. In the event the permittee has <br />failed to execute said open space easements and covenants and to file the <br />same with the administrator by the expiration of said thirty-day period, the <br />PUD Permit, Final Plat, if any and Final Plan shall be deemed to be void, <br />nullified and revoked unless an extension has been required in writing by the <br />permittee and for good cause granted by the City Council. <br /> <br /> <br />Section i320 - District Provisions <br />Adopted: November i3, 2006 <br />Page 4i of 41 <br />