2006-03-08 CC Packet - Laserfiche WebLink

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, : Developer sells one or more lots, the entire Plat, or any part of it. Assessments attributed to any lot or parcel shall be due in full on sale and shall be paid on or before t4e closing of such sale. E. The Developer shall pay in full all bills submitted to it by the City for obligations incurred under this Agreement within thirty (30) days after receipt. If the bills are not paid on time, the City may draw down the $15,000.00 escrow account, identifi~ in Section 17 of this Agreement, and may halt Plat development and construction until the bills are paid in full and .the escrow replenished to its original amount. Bills not paid within thirty (30) days shall accrue interest at the rate of eighteen percent (18%) per year. 23. DEVELOPER'S DEF AUL T. In the event of default by the Developer as to any of the work to be performed by it hereunder, the City may, at its option, perform the work and the Developer shall promptly reimburse the City for any expense incurred by the City, provided the Developer, except in an emergency as determined by the City, is fIrst given notice of the work in default, not less than 48 hours in advance. This Agreement is a license for the City to act, and it shall not be necessary for the City to seek a Court order for permission to enter the Plat. When the City does any such work, the City may, in addition to its other remedies, assess .the cost in whole or in part. 24. MISCELLANEOUS. A.. Third parties shall have no recourse against the City under this Agreement. B. Breach of the terms of this Agreement by the Developer shall be grounds for denial of building permits, including lots sold to third parties. C. If any portion, section, subsection, sentence, clause, paragraph, C?r phrase of this Agreement is for any reason held invalid, such decision shall not affect the validity of the remaining portion of this Agreement. Agreement Hunter's Crossing 3rd v5 14 rt/