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2017-11-08 CC Packet
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2017-11-08 CC Packet
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17. SECURITY. To guarantee compliance with all of the terms of this Agreement, <br /> including payment of real estate taxes,including interest and penalties,payment of Administration <br /> Costs,payment of the costs of all Public Improvements,construction of all Public Improvements, <br /> and payment to remediate any nuisances created by this Development,the Developer shall furnish <br /> the City with a Letter of Credit in the form attached hereto as Exhibit B, from a bank or other <br /> financial institution acceptable to the City("Security")in the amount set forth below. The amount <br /> of the Security is calculated as follows: <br /> CONSTRUCTION COSTS: <br /> 1. Cost of development, description: <br /> a. Lot access -gravel & silt fencing <br /> 24 Lots @ $700.00 each $16,800.00 <br /> b. Street name signs <br /> approximately 1 @ $250.00 each $250.00 <br /> C. Traffic signs, stop signs, etc. <br /> approximately 1 @$250.00 each $250.00 <br /> d. Trail markers <br /> approximately 2 @$150.00 each $300.00 <br /> e. Street sweeping <br /> 10 each @$250.00 each $2,500.00 <br /> f. Signage and barricades <br /> 1 @$250.00 each $250.00 <br /> g. Flushing of storm sewers, once per year until <br /> all lots are built upon $1,000.00 <br /> h. Snowplow service of streets <br /> approximately 20 @$200.00 $4,000.00 <br /> i. Shade trees(balled and burlapped)2 per <br /> lot or 4 per corner lot(28 Total)at$400.00 per tree <br /> $11,200.00 <br /> j. Final Grade/Sod/Curbstop @$4,000.00 per lot $96,000.00 <br /> vxG--2017-11-03 Page 8 <br /> 23 <br />
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