2004-177 Council Resolution - Laserfiche WebLink

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• Development Contract — Site Grading Only Highland Meadows East 2nd Addition 11 -22 -2004 reduction. Prior to the final acceptance of the Developer's Improvements the City shall require a Performance Bond or Cash Escrow to cover the warranty provisions of the agreement. The amount shall be determined by the City Engineer. III. CITY'S IMPROVEMENTS A. No City improvements are proposed under the grading project. IV. RECORDING AND RELEASE A. The Developer agrees that the terms of this Development Contract shall be a covenant on any and all property included in the Subdivision. The Developer agrees that the City shall have the right to record a copy of this Development Contract with the Anoka County Recorder to give notice to future purchasers and owners. This shall be recorded against the Subdivision described on Pages 1 -4 hereof. City shall provide to Developer upon payment of all the special assessments levied against a parcel a release of such parcel from the terms and conditions of this Development Contract subject to provisions contained in this contract. • V. REIMBURSEMENT OF COSTS A. The Developer agrees to establish a non - interest bearing escrow account with the City in an amount determined by the City Administrator or his designee for the payment of all costs incurred by the City related to the development of the plat and the Developer Improvements including, but not limited to, the following (See attachment B for Breakdown of costs): 1. Plat Review Fee 2. Planner Review Fee 3. Administration - 3% Construction Cost 4. Engineering a) Administration 5. Legal - Plat Review 6. Publications B. 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.