11-09-2015 Council Packet - Laserfiche WebLink

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Attachment J '4tv41®4Po% s^4 A l ite o"ewf Lyth City ordinance requirements. Verification of same shall be made by /the City's Planner. e. Developer shall prepare covenants and restrictions for the townhome association to govern all of the Cobblestone Village plat. specific provisions to be addressed in these documents include adequate maintenance of association improvements, guarantees of access for emergency vehicles, permission for the City to enter the property to accommodate the turn -around of the City's vehicles and equipment, and restriction on future development for Outlot 39 including the protection of the existing wooded ,area. Said covenants and restrictions are to be approved by the City. I f. Developer, or its agents or assigns, shall promptly clear from public streets and property any soil, earth or debris resulting from construction work done by the Developer or its agents or assigns respectively. Failure to do so will result in the City undertaking this work with costs subject to reimbursement by the Developer pursuant to Paragraph #11. g. Future residents of the plat shall not be deemed to be third -party beneficiaries of this Agreement. 16. Letter of Credit. The Developers shall furnish the City with an Irrevocable Letter of Credit in the amount of Two Hundred Eighty Thousand and No/100 Dollars ($280,000.00) prior to the commencement of construction of improvements to guarantee their completion. Said Letter of Credit shall be immediately available for the City's use to complete part or all of the construction in a timely and satisfactory manner, as determined by the sole discretion of the City. The Letter of Credit can be reduced to Fifteen Thousand and No/100 Dollars ($15,000.00), after the first lift of bituminous is completed and approved. 17. Warranty. The Developer warrants all work required to be performed against poor material and faulty workmanship for a period of one cm