2003-09-10 CC Packet - Laserfiche WebLink

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Prior 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 the amount of $12,500.00 to provide for financing the cost of preparing the Development Contract and 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 inspection, staking, and construction administration by the City Engineer. D. COVENANTS/RESTRICTIONS. Developer hereby agrees to place certain covenants against the subject property, restricting its development to single family home construction. Said covenants shall be approved by the City and recorded against the Property. E. RECORDING AND RELEASE. The Developer agrees that the terms of this Development Contract shall be a covenant on any and all property included in the Subdivision. The Developer agrees that the City shall have the right to record a copy of this Development Contract with the Anoka County Recorder/Registrar to give notice to future purchasers and owners. F. REIMBURSEMENT OF COSTS. Except as limited by Minnesota Statute 462.3531, the Developer agrees to fully reimburse the City for all costs incurred by the City including, but not limited to, the actual costs of construction of said improvements, engineering fees, legal fees, inspection fees, interest costs, costs of acquisition of necessary easements, if any, and any other costs incurred by the City relating to this Development Contract and the installation and financing of the aforementioned improvements. G. OCCUPATION OF PREMISES. The Developer further agrees that it will not cause to be occupied any premises upon the plat or any property within the plat until the completion of the gas, electric, telephone, cable television, water, and sewer improvements required by this Development Contract have been installed, unless the City has agreed in writing to waive this requirement as to a specific premises. Furthermore, Developer shall be granted no certificates' of occupancy for homes within the plat prior to substantial completion of all Private and Street and Utility Improvements described in this Contract, and as detailed in paragraph B.2(b). Building Permits shall be issued only within the constraints as set forth previously herein. If: OWNERSHIP OF IMPROVEMENTS. Upon completion of the work and construction required by this Contract and acceptance by the City, the improvements lying within the public easements shall become City property without further notice or action. I. INDEMNIFICATION AND HOLD HARMLESS. The Developer shall hold the City and its officers and employees harmless from claims made by itself and third parties for damages sustained or costs incurred resulting from subdivision plat approval and development. The Developer shall indemnify the City and its officers and employees for all costs, damages, or expenses which the City may payor incur in consequence of such 6