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125% of the Developer Improvements, the Developer shall upon written notice from the City <br />immediately post a Letter of Credit equal to the difference between 125% of the Development <br />Improvements and the remaining balance of the Equity Contribution. <br />13. 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 />14. WAC and SAC charges shall be paid with each building permit. <br />15. Park dedication fees shall be paid at the time of the building permit application for <br />each lot within the development based on the fee in effect at the time of the building permit <br />application. In addition, all plumbing permit fees, electrical permit fees and any other permit fees <br />required for new construction shall be paid at that time as well. <br />16. The Developer hereby agrees on behalf of itself, its heirs, successors and assigns, <br />that upon issuance of a Certificate of Occupancy the estimated market value for the next <br />preceding tax year as determined by the Ramsey County Assessor shall be no less than <br />$450,000.00. That until the earlier of (i) the date on which the Tax Increment District expires or <br />is otherwise terminated, or (ii) the date the applicable TIF Note is paid in full, no owner of a lot <br />which is subject to the terms of this Agreement shall seek administrative review or judicial <br />