Laserfiche WebLink
17 <br /> <br />If it is determined by the CITY that the DEVELOPMENT PLANS were not strictly adhered <br />to, or that work was done without CITY inspection, the CITY may require, as a condition of <br />acceptance, that the DEVELOPER post an irrevocable LOC, or cash deposit equal to 125% of <br />the estimated amount necessary to correct the deficiency or to protect against deficiencies <br />arising therefrom. This LOC or cash deposit is in addition to the LOC or cash deposit it referred <br />to in 13.1. In the event that work, which is concealed, was done without permitting CITY <br />inspection, then the CITY may, in the alternative, require the concealed condition to be exposed <br />for inspection purposes. <br /> <br />13.3. DEVELOPER'S CASH FEES AND CASH ESCROW REQUIREMENTS. At the <br />time that the DEVELOPMENT AGREEMENT is approved, DEVELOPER shall deposit cash <br />and cash escrows with the CITY for those items and in the amounts required in Exhibit C. <br /> <br />13.4. BUILDER'S CASH FEES AND CASH ESCROW REQUIREMENTS. <br />DEVELOPER shall notify each BUILDER that certain building permit fees and an escrow shall <br />be required prior to the issuance of a building permit for each lot for those items and in the <br />amount stated on Exhibit F, attached hereto. If the DEVELOPER is the only BUILDER pulling <br />building permits, the CITY, in its sole discretion, may accept an irrevocable LOC from the <br />DEVELOPER for each lot, in an amount equal to or exceeding the total amount of cash escrow <br />requirement that would otherwise be required under this paragraph. <br /> <br /> <br />ARTICLE 14 <br />MISCELLANEOUS <br /> <br />14.1. CITY'S DUTIES. The terms of this DEVELOPMENT AGREEMENT shall <br />not be considered an affirmative duty upon the CITY to complete any DEVELOPER <br />IMPROVEMENTS. <br /> <br />14.2. ADDITIONAL IMPROVEMENTS. If the DEVELOPER fails to construct the <br />DEVELOPER IMPROVEMENTS, the CITY at its option, may install and construct the <br />DEVELOPER IMPROVEMENTS. In such case, the CITY, at its option, may specially assess <br />the cost wholly or in part therefore under Minnesota Statute Chapter 429, or may draw on the <br />irrevocable LOC or cash deposit. If the CITY specially assesses the cost of any portion thereof, <br />then the DEVELOPER hereby waives any and all procedural and substantive objections to the <br />installation of the improvements and the special assessments, including, but not lin1ited to, <br />notice and hearing requirements and any claim that the special assessments exceed the benefit <br />to the FINAL PLAT. The DEVELOPER waives any appeal rights otherwise available pursuant <br />to Minnesota Statute § 429.081. The DEVELOPER acknowledges that the benefit from the <br />improvements equal or exceed the amount of the special assessments. <br /> <br />14.3. NO THIRD-PARTY RECOURSE. Third parties shall not benefit from the <br />terms of this DEVELOPMENT AGREEMENT and shall have no recourse against the CITY <br />under this DEVELOPMENT AGREEMENT. <br /> <br />14.4. VALIDITY. If any portion, section, subsection, sentence, clause, paragraph or <br />phrase of this DEVELOPMENT AGREEMENT is for any reason held to be invalid, such <br />decision shall not affect the validity of the remaining portion of this DEVELOPMENT <br />AGREEMENT. <br /> <br />14.5. RECORDING. The DEVELOPMENT AGREEMENT and PLAT shall be