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Resolution 24-009
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Resolution 24-009
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1/23/2024 12:23:42 PM
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1/23/2024 12:23:34 PM
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City Council
Council Document Type
Resolutions
Meeting Date
01/22/2024
Council Meeting Type
Regular
Resolution #
24-09
Resolution Title
Approving Site Improvement Performance Agreement with Vorandesoto LLC (Culver's Restaurant)
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A. The Developer agrees to establish a non-interest bearing escrow account <br /> with the City in an amount established by the City Engineer or his <br /> designee for the payment of all City fees and costs incurred by the City <br /> related to the On-site Work, including,but not limited to,the following: <br /> 1. Site Plan Review Fee $1,500.00 <br /> 2 Administration $14,000.00 <br /> (Legal, Engineering,Planning and Contract Administration) <br /> 3. Negative Short Term Escrow Balance $0.00 <br /> Total Estimated(Budget) Costs for Escrow Account $15,500.00 <br /> B. If it appears that the actual costs incurred will exceed the estimate or that <br /> the actual costs incurred will be less than the estimate,then Developer and <br /> City shall review the costs required to complete the project. In such case, <br /> if the actual costs exceed the estimate, then Developer shall promptly pay <br /> the additional sums to the City to pay for the agreed upon increase. <br /> However, in such case where the actual costs are less than the estimate, <br /> the City shall promptly reimburse to Developer any amounts overpaid by <br /> the Developer. The Developer may request a statement of the account <br /> each month for review. <br /> C. Intentionally Deleted. <br /> VIII. REMEDIES FOR BREACH. <br /> A. The City shall give prior written notice to the Developer of any default <br /> hereunder before proceeding to enforce such financial guarantee or before <br /> the City undertakes any work for which the City will be reimbursed <br /> through the financial guarantee. If within twenty(20)days after receipt of <br /> such written notice to it,the Developer has not notified the City by stating <br /> in writing the manner in which the default will be cured and the time <br /> within which such default will be cured,the City will proceed with the <br /> remedy it deems reasonably appropriate. <br /> B. At any time after the completion date and any extensions thereof,if any of <br /> the work is deemed incomplete,the City may proceed in any one or more <br /> of the following ways to enforce the undertakings herein set forth,and to <br /> collect any and all expenses reasonably incurred by the City in connection <br /> therewith, including,but not limited to, engineering, legal,planning and <br /> litigation costs and expense. The enumeration of the remedies hereunder <br /> shall be in addition to any other remedies available to the City. <br /> 1. Specific Performance. The City may in writing direct the surety or <br /> the Developer to cause the Work to be undertaken and completed <br /> within a specified reasonable time. If the Developer fails to cause <br /> Culver's Site Performance Agreement page 6 of 11 <br />
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