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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 their <br />designee for the payment of all City fees and costs incurred by the City <br />related to the On -site and Off -Site Work, including, but not limited to, the <br />following: <br />1. <br />Site Plan Review Fee <br />$5,500.00 <br />2 <br />Administration <br />$19,000.00 <br />(Legal, Engineering, Planning and Contract Administration <br />3. <br />Negative Short Term Escrow Balance <br />$0 <br />7 <br />Total Estimated (Budget) Costs for Escrow <br />$24,500.00 <br />Account <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 <br />and City shall review the costs required to complete the project. In such <br />case, if the actual costs exceed the estimate, the Developer shall promptly <br />pay 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. CONSTRUCTION ACTIVITIES. The Developer has requested to commence site <br />construction activities prior to Final Plat approval and prior to the effective date of <br />the Street and Utility Easement (Document No. 1271202) vacation. Developer <br />hereby acknowledges that they do so at their own risk. The City agrees to allow <br />for commencement of site construction activities as follows: <br />A. Grading and Utility Improvements. Site grading and utility improvements may <br />commence upon completion of the following: <br />Execution of this agreement and receipt of all securities required herein. <br />Execution of a Declaration for Maintenance of Stormwater Facilities, <br />Said document shall be recorded against the property. <br />iii. Issuance of Rice Creek Watershed District Permit. <br />iv. Review and approval of a Zoning Permit for Grading Application by the <br />City Engineer. <br />B. Building Permit. Building Permit Issuance shall be allowed subject to the <br />following conditions: <br />Ad Site Performance Agreement page 8 of 14 <br />