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Development Contract— Site Grading Only <br /> Pine Glen <br /> March 13, 2006 <br /> c) Prior to the acceptance of Developer Improvements by the City, the <br /> Developer shall obtain final plat approval and record the final plat <br /> which will dedicate all permanent easements necessary for the <br /> construction and installation of the Developer's and City's <br /> Improvements as determined by the City. <br /> d) All Construction debris and trash shall be properly disposed of at the <br /> developers expense and in a timely manner as determined by the <br /> City. <br /> 13. The Developer shall be required to obtain all necessary permits and <br /> approvals from all governmental agencies as required, including necessary <br /> right-of-way, temporary easements, or permanent easements for the <br /> construction. <br /> 14. The Developer shall make an application to FEMA for a Letter of Map <br /> Amendment (LOMA) or Letter of Map Revision (LOMR) to revised the <br /> existing Flood Plain maps consistent with the proposed grading plan. <br /> 15. Guarantee <br /> a) Faithful Performance of Construction Contracts and Letters of Credit <br /> (1) The Developer will fully and faithfully comply with all terms <br /> and conditions of any and all contracts entered into by the <br /> Developer for the installation and construction of all <br /> Developer's Improvements and hereby guarantees the <br /> workmanship and materials for a period of one year <br /> following the City's final acceptance of the Developer's <br /> Improvements. Concurrently with the execution hereof by <br /> the Developer, the Developer will furnish to, and at all times <br /> thereafter maintain with the City, a cash deposit, certified <br /> check, or Irrevocable Letter of Credit, based on one hundred <br /> fifty (150%) percent of the total estimated cost of <br /> Developer's Improvements. An Irrevocable Letter of Credit <br /> shall be for the exclusive use and benefit of the City of Lino <br /> Lakes and shall state thereon that the same is issued to <br /> guarantee and assure performance by the Developer of all the <br /> terms and conditions of this Development Contract and <br /> construction of all required improvements in accordance with <br /> the ordinances and specifications of the City. The City <br /> reserves the right to draw, in whole or in part, on any portion <br /> of the Irrevocable Letter of Credit for the purpose of <br /> guaranteeing the terms and conditions of this contract. The <br /> Irrevocable Letter of Credit shall be automatically extended <br /> page 7 <br />