10-08-2018 Council Meeting Packet

Home Search

Saddle Club 4th Addition Grading and Trunk Utility Agreement October 8, 2018 page 5 b. If the above escrow amounts are insufficient, the Developer shall make such additional deposits as required by the City. The City shall have a right to reimburse itself from the Escrow upon notice to the Developer, with suitable documentation supporting the charges. 15. Special Provisions a. The Letter of Credit amount specified under Exhibit B in the amount of $399,521.00 has already been provided through the Development Agreement for Saddle Club 3rd Addition dated August 29, 2017. Irrevocable Letter of Credit 4990252 from Crown Bank, 6600 France Avenue South, Suite 125, Edina, Minnesota, 55435. b. At the time of this Grading Agreement, the final construction plans for this development are not approved. If the grades or municipal utility locations need to change due to overall plan changes or final plat changes it will be the sole responsibility of the Developer to re-grade the site or re-install utilities at its own cost. 16. Hours of Construction Activity. All construction activity shall be limited to the hours as follows: Monday through Friday 7:00 a.m. to 7:00 p.m. Saturday 9:00 a.m. to 5:00 p.m. Sunday and Holidays No working hours allowed 17. Insurance. Developer or its general contractor shall take out and maintain until one year after the City accepted the Developer Improvements, public liability and property damage insurance covering personal injury, including death, and claims for property damage which may arise out of the Developer's or general contractor’s work, as the case may be, or the work of its subcontractors or by one directly or indirectly employed by any of them. Limits for bodily injury and death shall be not less than Five Hundred Thousand and no/100 ($500,000.00) Dollars for one person and One Million and no/100 ($1,000,000.00) Dollars for each occurrence; limits for property damage shall be not less then One Million and no/100 ($1,000,000.00) Dollars for each occurrence; or a combination single limit policy of Two Million and no/100 ($2,000,000.00) Dollars or more. The City, its employees, its agents and assigns shall be named as an additional insured on the policy, and the Developer or its general contractor shall file with the City a certificate evidencing coverage prior to the City signing the plat. The certificate shall provide that the City must be given ten days advance written notice of the cancellation of the insurance. The certificate may not contain any disclaimer for failure to give the required notice.