2012-069 Council Resolution - Laserfiche WebLink

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• • V. REIMBURSEMENT OF COSTS. A. 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 City fees and costs incurred by the City related to the On -site and Off -site Work, including, but not limited to, the following: Total Estimated (Budget) Costs for Escrow Account Administration (Legal, Engineering, Planning, and Contract administration) Existing project escrow as of June 19, 2012 $5,000 $5,000 Additional escrow deposit required: $0 B. The City shall have a right to reimburse itself from the Escrow. If it appears that the actual costs incurred will exceed the estimate, then Developer and City shall review the costs required to complete the project. In such case, Developer shall deposit additional sums with the City to pay for the agreed upon increase. VI. FUTURE RECLAMATION AND PAVING FEE A. The Developer agrees to provide the City a cash fee in the amount of fifteen thousand dollars ($15,000) for the future reclamation and paving of the existing Holly Drive pavement from Holly Court to County Road J. This fee represents the Developers proportional cost of the above described improvements. VII. REMEDIES FOR BREACH A. 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 by stating in writing the manner in which the default will be cured and the time within which such default will be cured, the City will proceed with the remedy it deems appropriate. B. 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 therewith, including, but not limited to, engineering, legal, planning and litigation costs and expense. The enumeration of the remedies hereunder shall be in addition to any other remedies available to the City.