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<br />CONSTRUCTION AND IMPROVEMENTS <br /> <br />~ 153.35 GENERAL CONDITIONS. <br /> <br />Upon receipt of the preliminary plat approval by the Council and prior to Council approval of the <br />fmal plat, the subdivider shall make provision, in the manner hereinafter set forth, for the installation at <br />the sole expense of the subdivider for any improvements as shall be required by the city, which <br />improvements may include but are not limited to streets, sidewalks, public water systems, sanitary <br />sewer systems, surface and storm drainage systems and public utility services. The installation of these <br />improvements shall be in conformity with approved construction plans and specifications and all <br />applications and all applicable standards and ordinances. <br /> <br />~ 153.36 DEVELOPER'S AGREEMENT. <br /> <br />Prior to the installation of any required improvements and prior to approval of the final plat, the <br />subdivider shall enter into a contract with the city, which contract shall require the subdivider to <br />construct the developer improvement at the sole expense of the subdivider and in accordances at the <br />sole expense of the subdivider and in accordance with approved construction plans and specifications <br />and all applicable standards and ordinances. The contract will define the developer's responsibilities <br />with regard to city improvement. The contract shall provide for the supervision of construction by the <br />City Engineer, and the contract shall require that the city be reimbursed for all costs incurred by the <br />city for engineering and legal fees and other expenses in connection with the making of the <br />improvements. The performance of the contract shall be financially secured by a cash escrow deposit <br />or irrevocable letter of credit as hereinafter set forth. <br /> <br />~ 153.37 FINANCIAL SECURITY. <br /> <br />The developer's agreement shall require the subdivider to make a cash escrow deposit or in lieu <br />thereof to furnish a letter of credit in the following amounts and upon the following conditions: <br /> <br />(A) Escrow deposit. The subdivider shall deposit with the Administrator a cash amount equal to <br />150 percent of the total cost of the improvements as estimated by the City Engineer, including the <br />estimated expense of the city for engineering and legal fees and other expenses incurred by the city in <br />connection with the making of the improvement. <br /> <br />(B) Letter of credit. In lieu of a cash deposit, the subdivider may furnish a letter of credit <br />satisfactory to the city, in a sum equal to 150 percent ofthe total cost of the improvements as estimated <br />by the City Engineer, including the estimated expense of the city for the engineering and legal fees and <br />other expenses incurred by the city in connection with the making of the improvements. Release of the <br />letter of credit will be determined by Council resolution. <br /> <br />42 <br />