2021-09-22 CC Packet - Laserfiche WebLink

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17.SUPERIOR RIGHT OF TITLE.The Developer agrees, and shall not cause any mortgage, lien, easement, covenant,or other encumbrance on title to the Land to be superior to any right or title the Developer grants to the City for aneasement, this Agreement, or any feature included on the Final Plat, including covenants for the maintenance of common open space, except by an express written authorization approved by the City Council. 18.ADMINISTRATIONCOSTS.The Developer shall reimburse the City for all of reasonableactual out-of-pocket expenses for this development including, but not limited toexpenses incurred for legal, planning,engineering services,development agreement compliance and inspection services. The Developer shall deposit$20,000and maintain with the City a minimum of $10,000 cash escrow for payment of these accrued or future costsin the amounts listed in city code.The City shall draw against the escrow to reimburse itself for all such costsand upon request shall provide the Developer with a detailed report itemizing all costs charged to the Developerby date, hourly rate (if applicable), time in tenths of hours spent, and description of the work or services performed.The Developer agrees that the City has the right to request additional -of-pocket costsand replenish such escrow.All billings by the City incurred after the execution of this Agreement must be presented within 90days of the date of service.Unless excused by the City Council, the Developer shall maintain theescrow for a period of one-yearafter either the termination of this agreement or completion of all construction and landscaping, whichever is a longer period.Charges against the cash escrow shall be reconciled within 90 days of the installation of the wearing course of blacktop. Uponten days written notice to Developer, the City may halt plat development and construction for any unpaid bills until they are paid in full,and the escrow replenished to its original amount. Bills not paid within thirty (30) days shall accrue interest atthe rate of sixpercent (6%) per year. City may at its option draw against developer security to reimburse itself for such costs. Before the City signs the Final Plat, Developer must pay or satisfy all of these costs, and any other unpaid governmental fees, assessments, judgments,or real estate taxes, plus any penalty and interest. Version 09/17/2021 Page 10