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SITE PLAN LANDSCAPING <br /> ESCROW AGREEMENT <br /> THIS AGREEMENT,Jon R Pederson, Sophie Pederson, and Ruff ridge-Johnson 1031, LLC, <br /> hereinafter referred to as "DEVELOPER", and the City of Centerville, herein after referred to as <br /> "MUNICIPALITY" and "BANK." <br /> WITNESSETH: <br /> WHEREAS, DEVELOPER has received a Conditional Use Permit from the MUNICIPALITY's Planning <br /> and Zoning Commission and City Council the development of its dealership site on Lot 2, Block 1 <br /> Clearwater Business Park. <br /> WHEREAS DEVELOPER is required by said approvals, at its own expense,to complete the <br /> construction of the development site in accordance with the plans reviewed and approved by the City <br /> Building Official; <br /> WHEREAS the parties to the Agreement wish to establish a mechanism to secure the obligations <br /> of the DEVELOPER for the work as set forth below; and <br /> WHEREAS,the MUNICPALITY will also serve as the BANK in the capacity of escrow agent and <br /> maintain escrow funds in a unique account. <br /> NOW THEREFORE,the parties hereby covenant and agree as follows: <br /> 1. DEVELOPER will, at its own expense, complete the following installation as depicted and in <br /> accordance with the specifications set forth in the Site Plan and related documents entitled T1.1, A1.1- <br /> A10.2, 51.1-54.4, Cl-C4.2, created by Rosa Architects and Stroh Engineering, and as reviewed by the <br /> City Building Official. <br /> 2.TIMELINES <br /> a. DEVELOPER shall construct and complete improvements as set the forth in Paragraph 1 <br /> (hereinafter the "Completion Period")within 18 months from the day the MUNICIPALITY issues a <br /> Building Permit, and the City shall grant reasonable continuances of this deadline. <br /> b. DEVELOPER shall replace or repair any defective or improper work or materials which may be <br /> identified as such by the MUNICIPALITY as a public improvement and/or within a public right of way or <br /> easement, within three (3) years after completion of the improvements set forth in Paragraph 1 by the <br /> MUNICIPALITY(hereinafter the "Warranty Period"). For the purpose of this Agreement, "completion" <br /> shall be deemed to have occurred when the Municipality has inspected and approved the installation of <br /> the Improvements and issued written notice to the Developer that the installation thereof is complete. <br /> 3. Upon "completion,"the CITY shall provide DEVELOPER and BANK written notice of <br /> completion. <br /> 34 <br />