Laserfiche WebLink
VII. REIMBURSEMENT OF COSTS. <br /> 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 and Off-site Work, including, but not limited to,the <br /> following: <br /> 1. Administration(Legal, Engineering, Planning, and $11,199 <br /> Contract administration) <br /> 2. Storm Water Management Fee (67,291 square feet @ $5,451 <br /> $.081 per s.f.) * <br /> 3. Park Dedication Fee (1.54 acres @ $2,175 per acre) $3,350 <br /> Total Estimated(Budget) Costs for Escrow Account $20,000 <br /> * Includes sub watershed improvement credit of$0.065 per square foot <br /> B. The City shall have a right to reimburse itself from the Escrow. If it <br /> appears that the actual costs incurred will exceed the estimate,then <br /> Developer and City shall review the costs required to complete the project. <br /> In such case, Developer shall deposit additional sums with the City to pay <br /> for the agreed upon increase. <br /> VIII. ASSESMENT OF TRUNK UTILITY CHARGES. <br /> A. The Developer agrees to the following trunk utility charges being assessed <br /> against the property per the standard City of Lino Lakes assessment <br /> procedures: <br /> l. Sanitary Sewer Trunk Unit Fee (42 units @ $1,095.00 per $45,990 <br /> unit) <br /> 2. Sanitary Sewer Trunk Area Fee (1.54 acres @ $2,520 per $3,881 <br /> acre) <br /> 3. Water Trunk Unit Fee (42 units @ $1,765 per unit) $74,130 <br /> 4. Water Trunk Area Fee (1.54 acres @ $ 2,690 per acre) $4,143 <br /> Total Assessments $128,144 <br /> B. The Developer agrees to waive all rights to a hearing on the improvements <br /> and all rights to appeal the benefit of said improvements. Said waiver is <br /> attached to this agreement as exhibit C. <br /> IX. REMEDIES FOR BREACH <br /> A. The City shall give prior notice to the Developer of any default hereunder <br /> before proceeding to enforce such financial guarantee or before the City <br /> undertakes any work for which the City will be reimbursed through the <br /> Country Inn and Suites Performance Agreement.doc page 6 of I I <br />