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04-14-25 - Council Meeting Agenda
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04-14-25 - Council Meeting Agenda
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4/9/2025 3:52:33 PM
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City Council
Council Document Type
Council Packet
Meeting Date
04/14/2025
Council Meeting Type
Regular
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the Work to be done and completed in a manner and time <br />reasonably acceptable to the City, the City may proceed to bring an <br />action for specific performance to require work to be undertaken. <br />2. Completion by the City. The City, after written notice, may enter <br />the premises and proceed to have the Work done either by <br />contract, by day labor or by regular City forces. The Developer may <br />not question the manner of doing such work or the letting of any <br />such contracts for the doing of any such work; provided that all <br />such work is performed in a reasonable manner, the costs are <br />reasonable and the work is completed in a good and workman -like <br />manner and in accordance with the approved plans and <br />specifications. Upon completion of such work, the Developer shall <br />promptly pay the City the full cost thereof as aforesaid. <br />3. Deposit of Financial Guarantee. In the event the financial <br />guarantee has been submitted in the form of a Letter of Credit, the <br />City may draw on the Letter of Credit the sum equal to the <br />reasonably estimated cost of completing the Work, plus the City's <br />reasonably estimated expenses as defined herein, including any <br />other reasonable costs, expenses, and damages for which the <br />surety may be liable hereunder, but not exceeding the amount set <br />forth on the Letter of Credit. The money shall be deemed to be <br />held by the City for the purpose of reimbursing the City for any <br />reasonable costs incurred in completing the Work as hereinafter <br />specified. Any funds remaining after completion of the project shall <br />be promptly returned to the Developer. <br />IX. OCCUPATION OF PREMISES. <br />The Developer agrees that it will not cause to be occupied any portion of the <br />building or improvements to be constructed upon the premises until completion of <br />the building and site improvements as more fully described in the approved plans <br />and following issuance of a Certificate of Occupancy. <br />X. INSURANCE. <br />Developer or its general contractor shall take out and maintain until one year <br />after the City accepted the Developer Improvements, public liability and property <br />damage insurance covering personal injury, including death, and claims for <br />property damage which may arise out of the Developer's or general contractor's <br />work, as the case may be, or the work of its subcontractors or by one directly or <br />indirectly employed by any of them. Limits for bodily injury and death shall be not <br />less than Five Hundred Thousand and no/100 ($500,000.00) Dollars for one <br />person and One Million and no/100 ($1,000,000.00) Dollars for each occurrence; <br />limits for property damage shall be not less than One Million and no/100 <br />Ad Site Performance Agreement page 10 of 14 <br />
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