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Letter of Credit or Cash Escrow to cover the warranty provisions of the <br /> agreement.The amount shall be determined by the City Engineer. <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 and Off-site Work,including,but not limited to,the <br /> following: <br /> 1. Site Plan Review Fee(Existing escrow deficit) $2,575.00 <br /> 2. Administration(Legal,Engineering,Planning,and Contract administration) $5,471.00 <br /> 4. Sanitary Sewer Trunk Area Fee(2.73 acres @ $2,640 per acre) $7,207.00 <br /> 5. Sanitary Sewer Trunk Unit Fee(3 units @ $1,145 per unit) $3,435.00 <br /> 6. Water Trunk Area Fee(2.73 acres @ $2,815 per acre) $7,685.00 <br /> 7. Water Trunk Unit Fee(3 units @ $1,845 per unit) $5,535.00 <br /> 8. Surface Water Management Fee(118,728 square feet @ $0.085 per $10,092.00 <br /> s.£)* <br /> Total Estimated(Budget)Costs for Escrow Account*** $42,000.00 <br /> *Includes sub-watershed credit of 0.073 <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. The City will not grant the developer the <br /> right to dispute charges prior to them being charged to the escrow account. <br /> The developer may request a statement of the account each month for <br /> review,but the City can not delay the charging of the account and carry <br /> those costs during the review period. <br /> C. The further development of either lot with a separate building or an <br /> expansion of the proposed facility(upon the platting of the two lots into <br /> one lot)will incur the cost of additional Sanitary Sewer and Water Trunk <br /> Unit Fees based on the Metropolitan Council's determination of <br /> Residential Equivalent Units and the city's fee schedule at the time of <br /> improvement. <br /> VH. 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 /> financial guarantee. If within ten(10)days after such notice to it,the <br /> SMWFCU Performance Agreement.doc page 5 of 9 <br />