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acceptance of the Developer's Improvements the City shall require a <br />Letter of Credit or Cash Escrow to cover the warranty provisions of the <br />agreement. The amount shall be agreed to by the City Engineer and <br />Developer and Developer may use the Letter of Credit discussed in <br />Section V.A above. <br />VI. 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 Work, including, but not limited to, the following: <br />1. Site Plan Review Fee (Existing escrow deficit) <br />2. Administration (Legal, Engineering, Planning, and Contract administration) <br />3. Sanitary Sewer Trunk Unit Fee (5 units @ $2,911 per unit) <br />4. Water Trunk Unit Fee (5 units @ $3,854 per unit) <br />5. Surface Water Management Fee (paid previously) <br />Total Estimated (Budget) Costs for Escrow Account <br />$1,500.00 <br />$1,500.00 <br />$14,555.00 <br />$19,270.00 <br />$.00 <br />$36,825 <br />B. If it appears that the actual costs incurred will exceed the estimate or that <br />the actual costs incurred will be less than the estimate, then Developer and <br />City shall review the costs required to complete the project. In such case, <br />if the actual costs exceed the estimate, then Developer shall promptly pay <br />the additional sums to the City to pay for the agreed upon increase. <br />However, in such case where the actual costs are less than the estimate, <br />the City shall promptly reimburse to Developer any amounts overpaid by <br />the Developer. The Developer may request a statement of the account <br />each month for review. <br />C. <br />Intentionally Deleted. <br />VII. REMEDIES FOR BREACH <br />A. The City shall give prior written notice to the Developer of any default <br />hereunder before proceeding to enforce such financial guarantee or before <br />the City undertakes any work for which the City will be reimbursed <br />through the financial guarantee. If within twenty (20) days after receipt of <br />such written notice to it, the Developer has not notified the City by stating <br />in writing the manner in which the default will be cured and the time <br />within which such default will be cured, the City will proceed with the <br />remedy it deems reasonably appropriate. <br />Northern Wholesale Site Performance Agreement 100213 page 4 of 8 <br />