12-13-2021 Council Packet - Laserfiche WebLink

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3 6. Agreement Duration. This Occupancy Agreement shall continue in effect until all of the improvements required under the Development Agreement are installed and accepted by the City. 7. Development Agreement. Except as otherwise set forth in this Occupancy Agreement, the Development Agreement shall remain in effect in accordance with its terms. 8. Amendment. Any amendments to this Occupancy Agreement must be set forth in writing and signed by all parties in order to be effective. 9. Breach. The parties agree that any breach by Developer of this Occupancy Agreement that remains after the City provides Developer 14 days written notice of the breach shall result in an immediate revocation of any certificate of occupancy without further action by the City. 10. Security. In consideration of the terms of this Agreement, Developer shall post security in the amount of $260,000 in the form of a letter of credit, or alternate security acceptable to the City. The security shall cover the costs of installation of private utilities, or the demolition of structures constructed on the Subject Properties should Developer fail to install the improvements required under the Development Agreement. 11. Indemnity. Developer, in consideration of the terms of this Agreement, agrees to defend, indemnify and hold the City and its officers, employees, and agents harmless from any loss, claim or damage related in any way to the early construction of homes permitted on the Subject Properties under this Agreement, except for any loss, claim, or damage arising from the intentional acts or gross negligence of the City, and it’s officers, employees and agents. CITY OF LINO LAKES By: _________________________________ Director of Community Development STATE OF MINNESOTA ) ) ss. COUNTY OF ANOKA ) On this _____ day of ________________, 2021, before me, a Notary Public within and for Anoka County, personally appeared Michael Grochala, to me known to be