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2 The improvements shall be installed in accordance with CITY standards, ordinances and , 3 plans and specifications which have been prepared by a competent registered professional 4 engineer furnished to the CITY and approved by the City Engineer. The DEVELOPED 5 shall obtain all necessary permits from the Minnesota Pollution Control Agency (MPCA), 6 )Minnesota Department of Health (MDOH), and other agencies before proceeding with 7 construction. The DEVELOPER shall provide field inspection to ensure an acceptable 8 level of quality control to the extent that the DEVELOPER'S engineer will be able to 9 certify that the construction work meets the approved CITY standards as a condition of 10 CITY acceptance. The DEVELOPER or engineer shall schedule a preconstruction 11 meeting at a mutually agreeable time at the City Hall with all the parties eoncemed, 12 including city staff`, to review the program for the construction work. within thirty (30) 13 days after the completion of the improvements and before the security is released, the 14 DEVELOPER shall supply the CITY with a complete set of reproducible "Record Plan" 15 drawings. 16 17 8. Securi To guarantee compliance with the terms of this Agreement, payment of the 18 costs of all improvements describer) herein and construction of all described 19 improvements, the DEVELOPED shall furnish a letter of credit for $589,218.75 in a fonn 20 to be approved by the CITY. The amount of'the letter of credit shall cover the following 21 installations: 22 Sanitary Sewer Storm surer facilities Sanitary Sewer Services Street construction Water plain Street signs Water Services Survey monuments, erosion control, Pathways and Sidewalks landscape and restoration Site grading Park Improvements 23 24 During the course of Plat development, the DEVELOPED may request a partial release of 25 the Letter of Credit. These requests must be made in writing. The amount of the Letter 26 of Credit to be released shall be agreed upon between the CITY and DEVELOPER acting 27 reasonably. 28 29 9. Time of Performance. Subject to force am.aj cure and conditions beyond the reasonable 30 control of the DEVELOPEI , the DEVELOPER shall install all required improvements 31 enumerated herein which will serve the Plat by S e-ptember 30, 2004. Subject to farce 32 maa cure and conditions beyond the reasonable control of the DEVELOPER, wear course 33 of asphalt and all landscape and restoration shall be installed by September 30, 2005. 34 The DEVELOPER tray, however, forward a request for an extension of time to the 35 CrrY. If an extension is granted, it shall be conditioned upon updating the security 36 posted by the DEVELOPER to reflect cost increases and the extended completion date. 37 38 10. GradinE Plana /Site GradiRg. The DEVELOPER. shall submit to the CITY a site grading 39 and drainage plan for the entire Plat acceptable to the CITY shoring the grades and 40 drainage for each lot prior to installation of the improvements. Site grading shall be Page 5 of 12