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. -...:' ..... --- -- ~. VI 1.1.0"'11 ....~ ............. U~i::.. ....t::..J' ~o.::::. r. t:J-)/ ~o .,,4'. ~. -~., _... 't .. . ~ ",', . ".--.... e ~, . VADNAIS SQUARE DEVELOPMENT AGREEMENT bicycle racks and other pedestrian amenities, etc. This Agreement contains all other requirements of the Special Use Permit. Article 2 Any changes to the layout of buildings, drives, parking, etc. (including those required by this Agreement) from the RunyanNogel site plan dated 10/25/94, except for the pad sites as noted in Article 1, shall be approved by the City. IVery minor" changes (defined as movement of interior walls or any change of 2 percent or under in square footage) shall be approved by City staff. "Minor" changes (defined as any change over 2 percent and under 5 percent in square footage) shall be approved by the City Council. Any significant changes to the approved site plan, as determined by the City Attorney, shall be reviewed and recommended by the Planning Commission and approved by the City Council. Any square footage change of 5 percent or over will be considered a significant or major change. Article 3 If the Developer does not commence substantial construction of this development, including applying for and receiving a building permit for at least 100,000 square feet of a building described in this Agreement, by December 31, 1996, the approval for this project shall be considered null and void, unless an extension is granted by the City Council prior to expiration of the date. Article 4 In the event that the Developer can show just cause why the date to commence construction, as noted in Article 3, cannot be met, the Developer may request that the City Council grant an extension. Extensions may be granted and shall not be for more than 180 days. Requests for extensions must be filed in writing with the City Clerk at least 30 days prior to the original c;feadline for commencing substantial construction as noted above. This extension shall not be construed to change other agreements between the City and the Developer. Article 5 Prior to occupancy of a phase of the development, the Developer shall deposit with the City a cashier's check, irrevocable letter of cr~it, perfonnance bond, or other suitable security acceptable to the City in the amount of 125% of the cost for completing the remaining site improvements to include: Plantings, seeding and sodding, final site grading, lighting, driveways and parking areas, etc. for the entire area of that phase; however, the landscaping on the perimeter of the development, including the buffer area, must be completed prior to any occupancy permit being issued for this development. Article 6 The Developer shall notify the City at least 72 hours in advance of the date the Developer is ready for final inspection of the site, and request release of the financial guaranteeS provided to the City in Article 5. The City's landscape architect will verify that all plant materials have been installed in accordance with the final approved plan. -2-