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City of Arden Hills Chapter 13 Zoning Code 2. The ro osed startin and com .letion dates for the construction. 3. The applicant shall submit documentation demonstrating that the PUD Final Plan is in conformance with the PUD Master Plan. C. Development Agreement and Bonding. 1. A development agreement and corporate surety may be required at the time of PUD Final Plan approval by the City Council to assure that all improvements to be constructed as part of the approved PUD Final Plan are com feted in accordance with the terms and conditions of such .lan or each stage thereof as outlined in the construction staging component. The bond shall guarantee in a penal sum equal to one hundred twenty -five (125) percent of the cost of such improvements as estimated by the City. The develo ment a reement and bond shall be filed with the administrator no later than sixty (60) days afte:PUD Final Plan approval. 2. The development agree ent may provide for several bonds covering se arate as ects of the :IUD the a re ate of which shall total one hundred twenty -five 5) _:percent of all the improvements to be constructed and complete y the applicant pursuant to the approved PUD Final Plan. In this case=:- :::each bond re uired b the develo ment agreement shall be= ec o ::later than sixty (60) days after PUD Final Plan approval. It may asst :require guarantee bonds in the p enal sum of one hundred (100r15:ercefit of the cost of completed improvements, as estimated the engineer to uarantee such im rovements for Aliaty_erjeittilLailtimearespecified therein. The release of any bond or any poiiiiitheref shall either be governed by the terms and provisions of the ..40elopnikilt agreement or shall be based upon the recommendation of the CItangiaer or City Planner and approval b the Cit Council. 3. If the applicant fails to enter into a development agreement and to file the corporate surety bond with the administrator by the expiration of the sixty__day period the PUD Permit Final Plat cif an and approved PUD Final Plan shall be deemed void, nullified and revoked unless an extension is re uested in writin b the as slicant and for ood cause ranted b City Council. B.Development Agreeme Conformance to Final Plan. as part an4 Section 1320— District Provisions Adopted: November 13, 2006 Page 63 of 65 To assure that all improvements to be constructed ereo --y s outlin 4n ---the construction- said Final Plan or any final plat required thereby, whichever is later, may require the sermittee to enter into and file with the administrator a development agreem nt- with- y- d-- -a--eorpora re -ty-- ante e- --�-s� the re---- Perforniance and