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C� • with a landscape letter of credit, bond, or other security covering a minimum of one full growing season/calendar year which is acceptable to the CITY in an amount up to 150% (as determined by the Community Development Director or designee) of the estimated cost of all landscaping, imgation, and fencing. 11. DEVELOPER'S DEFAULT For purposes of this AGREEMENT, the failure of the DEVELOPER to perform any covenant, obligation or AGREEMENT of the DEVELOPER hereunder, and the continuance of such failure for a period of thirty (30) days after written notice thereof from the CITY shall constitute a DEVELOPER default hereunder. Within the sixty (60) day period after notice is given, a request may be made for a hearing (by either party) to be held before the City Council to determine if a default has occurred. Upon the occurrence of DEVELOPER default and failure to cure, the CITY may withhold any certificate of occupancy for improvements proposed to be constructed. Notwithstanding anything herein to the contrary, the DEVELOPER may convey a parcel or parcels of land within the subject property to a third party, and the conveyed parcels shall remain subject to all of the terms of this AGREEMENT specifically relating to said Subject Property. In that case, the parties agree as follows: A default by the DEVELOPER, or its successors in interest, in the performance of the obligations hereunder, will not constitute a default with regard to the conveyed parcel and will not entitle the CITY to exercise any of its rights and remedies hereunder with respect to such conveyed parcel, so long as the owner of the conveyed parcel otherwise complies with applicable provisions of this AGREEMENT. A default with regard to a conveyed parcel will not constitute a default with regard to the parcels retained by the DEVELOPER or other conveyed parcels, so long as such retained or other conveyed parcels otherwise comply with applicable provisions of this AGREEMENT. 12. MISCELLANEOUS This AGREEMENT shall be binding upon the parties, their heirs, successors, tenants, or assigns, as the case may be. Breach of any material term of this AGREEMENT by the DEVELOPER shall be grounds for denial of building permits, except as otherwise provided in Section 10. If any portion, section, subsection, sentence, clause, paragraph or phrase of this AGREEMENT is for any reason held invalid as a result of a challenge brought by the DEVELOPER, its agents or assigns, the balance of this AGREEMENT shall nevertheless remain in full force and effect. This AGREEMENT shall run with the land and shall be recorded in the Ramsey County Recorder's Office by the CITY. This AGREEMENT shall be liberally construed to protect the public interest. Due to the preliminary nature of many of the plans and the timing of the overall development, addenda to this AGREEMENT may be required to address concerns not specifically set forth herein. The DEVELOPER represents to the CITY that, to the best of its knowledge, the Planned Unit Development is not of "metropolitan significance" and that a state environmental impact statement is not required. However, if the CITY or another governmental entity or agency determines that a federal or state impact statement or any other review, permit, or