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8 <br />cleaning and maintenance as reasonably required by the City, prior to completion of the development. <br />The Developer grants the City the right to enter upon the property to perform all functions required <br />under this Agreement and City Codes. Performance shall be guaranteed by the Performance <br />Guarantee set forth under this Agreement. <br /> <br /> Section 4.6. Approvals and Permits. The Developer shall be responsible for securing all <br />necessary approvals and permits from all appropriate Federal, State, Regional and Local jurisdictions <br />prior to the commencement of site grading and prior to the construction of Developer Improvements. <br /> <br /> Section 4.7. Utilities. The Developer shall arrange for all gas, telephone, cable television <br />(if available) and electric utilities to be installed to serve the development. Developer shall install <br />water meters in each of the homes constructed according to City specifications. <br /> <br /> Section 4.8. Private Easement. Developer shall prepare and record a private access <br />agreement allowing 3700 Hwy 61 access to Hwy 61 as required by City of Gem Lake resolution no. <br />_______________ approving a minor subdivision. The city retains for it to approve the terms and <br />conditions of the private access agreement prior to its execution recording. <br /> <br /> Section 4.9. City Engineer. The City shall provide a licensed professional engineer, or <br />their duly authorized representative to oversee, at the Developer’s expense, the Developer’s <br />Improvements (except for the building to be constructed) identified in this Agreement until such <br />improvements are completed and accepted by the City. The City shall conduct an inspection within <br />forty-eight (48) hours of notice or request by the Developer. The forty-eight (48) hour notice shall <br />exclude weekends and holidays. <br /> <br /> Section 4.10. Fence Plan. Developer may construct the proposed fence, shown on the site <br />plan, with said fencing meeting the requirements of Section 16.13 and building type template 15a. <br /> <br /> Estimated cost of Developer’s Improvements for Part A, the description and completion dates <br />are as follows: See Exhibit B, Part A. <br /> <br />Section 4.11. Finance. <br /> <br />(a) As financial security, Developer shall furnish the City with a Letter of <br />Credit or other security in a City approved format in an amount equal to One Hundred <br />Twenty-Five Percent (125%) of the improvement contract amount. The Developer’s <br />financial security shall be used to guarantee Developer’s completion of all of the Required <br />Improvements, compliance with this Agreement, and compliance with the terms and <br />conditions of approval City Resolution Number ________________ approving a Zoning <br />Compliance permit and City Resolution Number __________________ approving a minor <br />subdivision. Said surety shall be immediately available for City’s use to complete part or <br />all of the construction in a timely and satisfactory manner, as determined in the sole <br />discretion of City. Said surety shall remain in full force and effect until completion and <br />acceptance of the Required Improvements based on the sole determination of City. <br /> <br />(b) The Developer agrees that the terms of the financial security shall be <br />deemed to have been violated if the Developer fails to perform any of the terms of this