2018 05-15 CC PACKET - Laserfiche WebLink

Home

Section 4.8; Utilities. The Developer shall arrange for all gas, telephone, cable television (if available) and electric utilities to be installed to serve the development. Developer shall install water meters in each of the homes consttuated according to City specifications. Section 4.9. Dedication. of Land. Developerr shall dedicate land in the amount of 9,35 acres to the City, Section 4. 10. City Engineer. The. City shall provide a licensed professional engineer; or their duly authorized representative to oversee, at the Developer's expense, the Developer's. Improvements identified in this Agreement until such improvements are completed and accepted by the City. The City shall.conduct an inspection within forty-eight (48) hours. of notice. or request by the Developer. The forty-eight (48) hour. notice shall exclude weekends and holidays. Section 4,11, TreePlan. Developer shall install trees within the open space according to the Tree Plan submitted in the Plat. Estimated cost of Developer's Improvements for Part A, the. description and completion dates are as follows: See Exhibit B, Part A. Section 4.12, :Finance. (a) As f nancial security, Developer shall furnish the City with a Letter. of Credit or other security in a City approved format in an amount equal to One Hundred Twenty -Five Percent (125%) of the improvement contract amount of, an executed copy of which is attached as Exhibit C. The Developer's financial security shall be used to. guarantee Developer's completion o f all of the Required Improvements, compliance with this Agreement,. and compliance with the. terms and conditions of approval of the Villas Plat, Said surety shall. be immediately available for City's use to complete part or all of the construction in a timely and satisfactory manner, as determined in the sole discretion of City. Said surety shall remain in foil force and effect until completion and acceptance of the. Required Improvements based on the. sole determination of City. After the first lift Of asphalt is applied to the streets and approved by the City Engineer, the financial security may be reduced to an amount equal to the cost of the final lift of asphalt and any remaining utility and/or restoration work to be done multiplied by l;S0°/o. (b) The Developer agrees that the terms of the financial. security shall be deemed to. have been viol ated. if the Developer faits to perform any of the terms of this Agreement in the manner: required by the City. City shall provide Developer ten (10) days written notice of any violation of the teens of the Agreement. Determination of a violation of the terms of the Agreement shall be in the sole discretion of the City, which shall not be unreasonable. The financial security shall be. available for use by the City to remedy any violation of the: terms of this. Agreement, .subject to the "ten (14) days. written notice to Developer and Developer's failure to rectify same within that. period of time. (e) Water meters shall be installed per City requirements. (see above). (d) WAC and SAC charges shall be paid with each building permit.