08-25-25 - City Council Agenda - Laserfiche WebLink

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Java Lino Lakes Second Addition Development Agreement August 25, 2025 page 6 expiration date, the Community Development Director and City Engineer, are notified by certified mail or overnight courier, that the Letter of Credit will not be extended. c. Surety Agreement. Alternatively, the Developer may enter into a Public Improvement Surety Agreement, subject to City approval. d. Reduction of Security. The Developer may request a reduction of the Letter of Credit or cash deposit based on prepayment or the value of the completed improvements at the time of the requested reduction. 11. Warranty. The Developer warrants all utility work required to be performed by it against poor material and faulty workmanship for a period of two years after its completion and acceptance by the City. All new streets shall be warranted by the developer for a period of one year from the time the final inspection of the street is completed and accepted by the City Council. All trees, grass and sod shall be warranted to be alive, of good quality and disease free for 12 months after planting. Prior to final acceptance of the Developer Improvements the City shall require a Surety Bond or Cash Escrow to cover the warranty provisions of this Agreement. The amount shall be 20 % of the original cost of construction identified in Exhibit B. 12. Dedication. The Developer shall dedicate to the City, at no cost to the City, any permanent or temporary easements that may be necessary for the construction and installation of the Developer Improvements. All such easements required by the City shall be in writing, in recordable form, containing such terms and conditions as the City shall determine. 13. Ownership of Improvements. Upon completion and City acceptance of the work and construction required by this Agreement, the public storm sewer, sanitary sewer, water main and pond IB2 improvements lying within public easements as shown in Exhibits C shall become City property without further notice or action unless the improvements are deemed private infrastructure. All other improvements including stormwater facilities shall be the responsibility of the developer or assigns. 14. Recording and Release. The Developer agrees that the terms of this Development Agreement shall be a covenant on any and all property included in the Subdivision. The Developer agrees that the City shall have the right to record a copy of this Development Agreement with the Anoka County Recorder to give notice to future purchasers and owners. This shall be recorded against the Subdivision described on Page 1. 15. Escrow for City’s Costs. a. The Developer agrees to establish a non-interest-bearing escrow account with the City in an amount determined by the City Administrator or their designee for Page 137 of 171