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02-08-1995 Council Agenda
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02-08-1995 Council Agenda
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19. Access. Developer agrees to maintain access to <br />properties abutting Jackson Street during the construction of <br />the public improvements. The City reserves the right to direct <br />the Developer's contractor as to the adequateness of access and <br />to make the necessary arrangements to provide access. Any <br />inconvenience to the abutting property owners is to be <br />minimized. <br />20. Letter of Credit. The Developer shall provide a <br />Letter of Credit in the amount of Fifteen Thousand and no /100 <br />Dollars ($15,000.00) to provide for the future connection of the <br />cul -de -sac area to Yorkton Boulevard. The Letter of Credit <br />shall be automatically renewable for two (2) additional one (1) <br />year periods without notice by the City. Said amount will be <br />held by the City of Little Canada and is to be utilized by the <br />City if it is determined that said access is necessary to allow <br />for proper traffic flow in this area. This amount will be held <br />for three (3) years from the date of this Agreement, and may be <br />utilized by the City at its option for necessary improvements <br />relating to the construction of the street, subject to the <br />holding of a public hearing for the affected neighbors. If at <br />the end of the three (3) year period, the road has not been <br />installed, the Letter of Credit shall expire. <br />21. Berm Adiacent to Industrial, park. The Developer <br />agrees to sod the south side of the berm and to seed the north <br />side of the berm as part of the development plan. Developer <br />-.9- <br />Page 11 <br />
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