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NOv - 24' 98(TUEi 15'39 BARNA. SUZY STEFFE TEL�61 IR 17 P. DO% <br /> said deficient amount. Irthere should be an overage in the amount of <br /> utilized security, the City will, upon snaking said determination, refund to <br /> the Developer any monies which the City has in its possession which arc <br /> in excess of the actual cost paid by the City. <br /> 2. Construction Administration Escrow. Prior to rho preparation of final plans and <br /> specifications for the construction of said improvements, the Developer shall <br /> provide to the City a cash escrow in an amount indicated in writing to provide for <br /> financing the cost of preparing said final plans and specifications by the City <br /> Engineer. Furthermore, the Developer shall also provide a cash escrow to the <br /> City in an amount indicated in writing to provide For financing the cost of <br /> inspection, staking, and construction administration by the City Engineer. <br /> D. RECORDING AND RELEASE The Developer agrees that the terms of this <br /> Development Contract shall be a covenant on any and all property included in the <br /> Subdivision. The Developer agrees that the City shall have the right to record a copy of <br /> this Development Contract with the Anoka County Recorder/Registrar to give notice to <br /> future purchasers and owners. <br /> E. REIMBURSEMENT OF COSTS The Developer agrees to fully reimburse the City for <br /> all costs incurred by the City including, but not limited to, engineering fees, legal fees, <br /> inspection fees, interest costs and any other costs incurred by the City relating to this <br /> Development Contract. <br /> F. OCCUPATION OF PREMISES The Developer further agrees that it will not cause to <br /> be occupied any premises upon the plat or any property within the plat until the <br /> completion of the gas, electric, telephone, water, and sewer improvements required by <br /> this Development Contract have been installed, unless the City has agreed in writing to <br /> waive this requirement as to a specific premises, <br /> G. OWN PR81411 OF IMPROVEMENTS Upon completion of the work and construction <br /> required by this Contract and acceptance by the City, the improvements lying within the <br /> public easements shall become City property without further notice or action. <br /> H. INDEMNIFICATION AND i HARMLE . The Developer shall hold the City and <br /> its officers and employees harmless M M claims made by itself and third parties for <br /> damages sustained or costs incurred resuhing from Subdivision plat approval and <br /> development. The Developer shall indemnify the City and its officers and employees for <br /> all costs, damages, or expenses which the City may pay or incur in consequence of such <br /> claims, including reasonable attorneys fees. Provided that nothing herein shall require <br /> Developer to indemnify the City, its officers or employees from any violation of law or <br /> from the consequences of their ewm negligence. <br /> I. PROHIBITIONS AGAINST ASSIGNMENT OF AQREEMENT Developer represents <br /> and agrees that prior to the completion of the Developer improvements as cerlified by the <br /> City: <br /> 6 <br />