Laserfiche WebLink
American Legion Post 566 Site Performance Agreement page 2 of 8 <br /> <br />Such improvements shall be completed in accordance with Section IV <br />herein. <br /> <br />B. Cost Estimates. The Developer shall provide the City with a written <br />estimate of all applicable costs of the On-Site Work, itemized by type; the <br />estimates shall be based upon the actual estimates provided by the <br />contractors who are to do the Work. Said cost estimates shall be reviewed <br />by the City, and the City shall establish the actual amount of the financial <br />guarantee. The description and estimated cost of Developer's On-site <br />Work are as follows: <br /> <br /> Description of Improvements Estimated Costs <br /> <br />1. Storm Sewer & Storm Water Management $5,930 <br />2. Bituminous & Concrete Paving $54,325 <br />3. Grading & Erosion Control $11,000 <br /> Total Estimated Cost of Developer <br />Improvements <br /> <br />$71,255 <br /> Security Requirement (Total * 35%) $24,940 <br /> <br />III. RECORD DRAWINGS <br /> <br />A record drawing that includes an as-built survey of grading, storm water <br />BMP’s (ponds, rain gardens, trenches, swales, etc.) is to be submitted to <br />the City for verification of compliance with the approved plans. A hard <br />copy and an electronic copy of the record drawing must be submitted. <br /> <br />IV. COMPLETION DATE. <br /> <br />If the activities authorized by site and building plan approval are not initiated <br />within twelve (12) months from the final execution of this agreement, then <br />Developer will need to start the site and building plan approval process from <br />the beginning. <br /> <br />V. GUARANTEE. <br /> <br />A. The Developer will fully and faithfully comply with all terms and <br />conditions of any and all contracts entered into by the Developer. <br />Concurrently with the execution hereof by the Developer, the Developer <br />will furnish to, and at all times thereafter maintain with the City, a cash <br />deposit, certified check, or Irrevocable Letter of Credit, based on thirty- <br />five (35%) percent of the total estimated cost of Developer's On-site <br />Work. An Irrevocable Letter of Credit shall be for the exclusive use and <br />benefit of the City of Lino Lakes and shall state thereon that the same is