1997-12-22 - CC Packet - Laserfiche WebLink

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CCT —lE- 19'=+7 11; 3J r . •�_ LakelatAHills ENGINEER'S COpY Develo-Iment Agreement Revised October 15, 1997 b. Construction shall not be until written notice authorizing construction to start is received by the Developer from the City. C' Construction shall be completed to the standards and specifications described Lit the plans and specifications entitled Lakeland Hills Streets and Utilities. d. The Developer shall provide a Disbursement Agreement as Security for the cons action of the Street and Utility Improvements as referenced in paragraph H above, Street and Utility Improvements. e. As outlined in the Disbursement Agreement, the City shall give written notice to the Developer and the Lender whether the City approves or rejects the Street and Utility Improvements pay estimate through that particular stage of 7 construction submitted for approval. i c Frior to the preparation, of final plans and specifications for the construction of said improvements, the Developer shall provide to the City a cash escrow in an artoun. indicated in wrltinc to provide for financing the cost of preparing said final plans and specifications by the City Engineer. Furthermore, the Developer shall also provide a cash escrow to the City in an amount indicated in writing to provide for financing the cost of impec +won, staking, and construction administation by the City p � Engineer. Said cash escrow, including accrued interest thereon, may be used by the /� G � �, Ciry upon default by Developer. z txch xn�y x�gy $ ggg ,� tx�exctx��x�ez�t�xtt�x�sxx Tha^suchh cash escrow o; letter of credit shall remain in full force an act u oughoui tit t ., of the special assessments, except the amount e request of the Developer, at the ; , ' option, but in no event shall s than the total of the outstanding special assessri ll pro i s within the Subdivision. The ent1e cost of +the installation of Flu ovements, including any reasonable englrering, legal, and adtni ,Anve costs ncurr the City, shall be assessed a?ainst the benefft operties within the Subdivision in 10 ) equal annual irstallmen t interest on the unpaid installments at a rate not eed the um allowed by law. ^A vial assessments levied hereto shall be payable to the Deputy Cl semiannual' ants over ten (10) years commencing on May 7, of the / year after the levy o assessment and on each O 5th and May 15th thereafter until the entire balance accru rest is paid in full unless paid earlier. In the alternative, the Ci o may certify the entire assessment roil to the Anoka Count ttor for collection with I Estate Taxes. In the event any pa s not made on the dates set out herein, the 1 exercise its ri anted hereunder for such default. The Developer waives any 11 260 /LVi7 -1 Sy :. s - Pagel