07-28-2004 Council Agenda - Laserfiche WebLink

Home Browse Search

Hidden Acres Development Contract as delineated by City Resolution Number 2004 -5 -100 and any City resolution associated with final plat approval granted on July 28, 2004. Said surety shall be immediately available for City's use to complete part or all of the construction in a timely and satisfactory manner, as determined in the sole discretion of City. Said surety shall remain in full force and effect until completion and acceptance of the Required Improvements based on the sole determination of City. After the first lift of asphalt is applied to the streets and approved by the City Engineer, the financial security may be reduced to an amount equal to the cost of the final lift of asphalt and any remaining utility work to be done to complete Nadeau Road multiplied by 150 %. 12. The Developer agrees that the terns of the financial security shall be deemed to have been violated if the Developer fails to perform any of the terms of this Contract in the manner required by the City. Determination of a violation of the terms of the Contract shall be in the sole discretion of the City. The financial security shall be immediately available for use by the City to complete part or all of the Required Improvements in the event this agreement is breached or the Required Improvements are not completed in an acceptable or timely manner, as determined in the sole discretion of the City. The City shall have the right to enter upon the property to inspect work or complete all or a portion of the Required Improvements as necessary. In the event the City does any such work, the City may, in addition to its other remedies, assess its costs in whole or in part. 13. WAC and SAC charges will become due with each building permit. 14. Park dedication fees will be payable at the time of the building permit application for each lot within the development based on the fee in effect at the time of the building permit application. 15. The Developer has deposited with the City five thousand dollars ($5,000), from which any and all costs and expenses incurred by the City, in any way related to this Contract, including, but not limited to, planning and engineering fees, legal fees, City staff time, cost of acquisition of any easements, shall be paid. Cost for City stab time expended in conjunction with this Contract are expected to equal two and one half percent (2.5 %) of the construction cost -4-