Laserfiche WebLink
2580 Edgerton Street <br />Development Contract <br />Finance <br />9. As financial security. Developer shall furnish the City with a Developer's Bond, <br />Letter of Credit. or other financial security in an approved format in an amount of Ten Thousand <br />Dollars ($10,000) to guarantee compliance with the terms of this agreement. Said surety shall <br />remain in full force and effect until completion and acceptance of the Required Improvements <br />based on the sole determination of City. <br />10. The Developer agrees that the terms of the financial security shall be deemed to <br />have been violated if the Developer fails to perform any of the terms of this Contract in the <br />manner required by the City. Determination of a violation of the terms of the Contract shall be <br />in the sole discretion of the City. The financial security shall be immediately available to the <br />City to reimburse itself for any costs associated with the enforcement of this agreement. The <br />City shall have the right to enter upon the property to inspect work or complete all or a portion of <br />the Required Improvements as necessary. <br />11. Developer or their agents or assigns, shall keep the public streets clear of any soil, <br />earth or debris resulting from work done by Developer or their agents or assigns. Any such <br />materials must be promptly removed and in no event shall they be present more than 24 hours <br />after placement. Failure to comply with this provision will result in the City undertaking this <br />work with costs to be reimbursed by Developer pursuant to Paragraph 10. <br />Required Improvements <br />12. The Required Improvements are depicted on Exhibit B attached hereto and include <br />the following: <br />I. Application for and issuance of a building permit for the construction of a <br />detached garage structure and remodeling of a portion of the existing, attached <br />garage to habitable area of the current residence, subject to compliance with <br />City Zoning Ordinances. The Developer shall provide all information required <br />by the Building Official for the City of Little Canada to enable processing and <br />issuance of the permit by September 1, 2007. <br />-4- <br />