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Drywall Supply Addition <br />Development Contract <br />compliance with this Agreement. Said surety shall be immediately available for City's use to <br />complete part or all of the construction in a timely and satisfactory manner, as determined in the <br />sole discretion of City. Said surety shall remain in full force and effect until completion and <br />acceptance of the Required Improvements based on the sole detemtination of City. <br />12. 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 for use by <br />the City to complete part or all of the Required Improvements in the event this agreement is <br />breached or the Required Improvements are not completed in an acceptable or timely manner, as <br />determined in the sole discretion of the City. The City shall have the right to enter upon the <br />property to inspect work or complete all or a portion of the Required Improvements as necessary. <br />In the event the City does any such work, the City may, in addition to its other remedies, assess <br />its costs in whole or in part. <br />13. WAC and SAC charges will become due with each building permit. <br />14. Park dedication fees will be payable at the time of the building permit application <br />for Lot Two. No other Park Dedication fees shall be payable for Lots One and Three. <br />15. The Developer has deposited with the City five thousand dollars ($5,000), from <br />which any and all costs and expenses incurred by the City, in any way related to this Contract, <br />including, but not limited to, planning and engineering fees, legal fees, City staff time, cost of <br />acquisition of any easements, shall be paid. Cost for City staff time expended in conjunction <br />with this Contract are expected to equal three and one half percent (3.5 %) of the construction <br />cost involved in the Contract. Said fee can be increased or reduced in the sole discretion of the <br />City, should staff time required vary dramatically from this estimate. This provision is consistent <br />with an agreement between the City and Developer, dated August 30, 2002, which is attached <br />hereto and incorporated herein as Exhibit B. <br />_4_ <br />