07/11/2005 Council Packet - Laserfiche WebLink

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improvements at the time of the requested reduction. The amount of reduction will be determined by the City Engineer. REIMBURSEMENT OF COSTS The Developer agrees to establish a non - interest bearing escrow account with the City in an amount established by the City Engineer or his designee for the payment of all costs incurred by the City related to the development and improvement of the site and Developer improvements, including, but not limited to, the following: 1. Site Plan Review (Escrow Deficit) 2. Administration (Planning, Engineering, Legal, etc.) Total Estimated (Budget) Costs for Escrow Account $ 896.66 $ 4,000.00 $ 4,896.66 If the above escrow amounts are insufficient, the Developer shall make such additional deposits as required by the City. The City shall have a right to reimburse itself from the Escrow. REMEDIES FOR BREACH The City shall give prior notice to the Developer of any default hereunder before proceeding to enforce such financial guarantee or before the City undertakes any work for which the City will be reimbursed through the financial guarantee. If within ten (10) days after such notice to it, the Developer has not notified the City in writing of its intention to cure the default within 10 days thereafter, the City will proceed with the remedy it deems appropriate. At any time after the completion date and any extensions thereof, if any of the work is deemed incomplete, the City may proceed in any one or more of the following ways to enforce the undertakings herein set forth, and to collect any and all expenses incurred by the City in connection A -48-