Laserfiche WebLink
Development Contract <br />5. There is no intent to benefit any third parties and third parties shall have no recourse <br />against the City under this Contract. <br />6. The Developer shall reimburse the City for all costs incurred by the City in defense <br />or enforcement of this Contract, or any portion thereof, including court costs and reasonable <br />engineering and attorneys' fees. <br />7. If any portion, section, subsection, sentence, clause, paragraph, or phrase of this <br />Contract is for any reason held to be invalid by a court of competent jurisdiction, such decision <br />shall not affect or void any of the other provisions of the Development Contract. <br />Recording <br />8. The Developer shall record the Development Contract with Ramsey County and <br />shall forward confirmation of the recording of the document to the City. In the event that <br />technical or clerical revisions are needed in the document or if for any reason the County <br />Recorder deems the Development Contract unrecordable, the Developer shall cooperate with the <br />City in the execution or amendment of any revised Development Contract. <br />Financal <br />9. It is agreed that the City has the right, privilege and authority as a condition precedent <br />to the approval of the plans relative to the Improvements to the property, to prescribe <br />requirements for such Improvements. Developer shall maintain a financial guarantee satisfying <br />the requirements of the City in a form acceptable to the City in the amount of $25,000.00 to <br />guarantee timely and satisfactory completion of the Improvements by the Developer. Upon <br />completion, inspection, and acceptance by the City of the Improvements, the financial guarantee <br />will be released. <br />10. The Developer agrees that the terms of the financial guarantee shall be deemed to <br />have been violated if the Developer fails to perform any of the terms of this Development <br />Contract in the manner required by the City hereunder. Determination of a violation of the terms <br />of the Development Contract shall be in the sole discretion of the City. Upon such a violation, <br />