07-26-2021 Council Packet - Laserfiche WebLink

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Lyngblomsten at Lino Lakes Addition Development Agreement July 26, 2021 page 5 8. City Improvements. No City improvements are proposed to be constructed for this subdivision. 9. Record Drawings. a. Upon project completion, Developer shall submit record drawings, in electronic format, of all public and private infrastructure improvements, including grading, sanitary sewer, watermain, storm sewer facilities, and roads, constructed by Developer. The files shall be drawn in Anoka County NAD 83 Coordinate system and provided in both AutoCAD .dwg and Adobe .pdf file formats. The plans shall include accurate locations, dimensions, elevations, grades, slopes and all other pertinent information concerning the complete work. b. The Developer shall submit certified compaction testing results for the site grading operations. c. A summary of the record plan attribute data for the storm sewer, watermain, and sanitary sewer structures and pipes shall be submitted in the form of an Excel Spreadsheet as provided by the City Engineer. d. No securities will be fully released until all record drawings have been submitted and accepted by the City Engineer. 10. Faithful Performance of Construction Contracts and Security. a. The Developer will fully and faithfully comply with all terms and conditions of any and all contracts entered into by the Developer for the installation and construction of all Developer Improvements. Concurrent with the execution hereof by the Developer, the Developer will furnish to, and at all times thereafter maintain with the City, a cash deposit, certified check, Irrevocable Letter of Credit, or Surety Agreement in form and substance as set forth on Exhibit D attached hereto (at Developer’s sole option), based on one hundred and twenty-five (125%) percent of the total estimated cost of the Developer's Improvements as set forth on Exhibit C attached hereto. As set forth on Exhibit C, any other Developer work not secured by the cash deposit, certified check, Irrevocable Letter of Credit, or Surety Agreement required under this paragraph 10 for Developer Improvements, including but not limited to parking lot construction, shall be covered by a separate security posted by the Developer of not less than thirty-five (35%) percent of the total estimated cost of such work. b. Irrevocable Letter of Credit. If an Irrevocable Letter of Credit is utilized for any security required by this Agreement, it shall be for the exclusive use and benefit of the City of Lino Lakes and shall state that it is issued to guarantee and assure