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1 <br />• <br />• <br />NorthPointe 2nd Addition <br />Development Contract <br />September. 2014 <br />4. All construction debris and trash shall be properly disposed of at <br />the Developers expense and in a timely manner as determined by <br />the City. <br />xi. The Developer shall construct and pay for all improvements as described <br />in the approved landscaping plan. <br />xii. Faithful Performance of Construction Contracts and Letter of Credit <br />The Developer will firlly and faithfulh comply with all terms and <br />conditions of any and all contracts entered into by the Developer <br />for the installation and construction of all Developer <br />Improvements. Concurrent with the execution hereof by the <br />Developer. the Developer will provide a Letter of Credit as <br />outlined in Attachment C. <br />III RECORDING AND RELEASE <br />a. The Developer agrees that the terms of this Development Contract shall be a <br />covenant on an' and all property included in the Subdivision. The Developer <br />agrees that the Cite shall have the right to record a: copy of this Development <br />Contract with the Anoka Count\ Recorder to give notice to future purchasers and <br />owners. This shall be recorded against the Subdivision described on Page 1 <br />hereof. City shall provide to Developer upon payment of all the special <br />assessments levied against a parcel. a release of such parcel from the terms and <br />conditions of this Development Contract subject to provisions contained in this <br />contract. <br />IV. REIMBURSEMENT OF COSTS <br />a. The Developer agrees to establish a non-interest bearing escrow account with the <br />City in an amount determined by the Cit. v Administrator or his designee for the <br />payment of all costs incurred by the Cit.\ related to the development of the <br />Subdivision and the Developer Improvements including. but not limited to. the <br />following (See Attachment C for breakdown of costs): <br />i. Plat Review <br />ii. Planner Review <br />iii. Administration - 3% Construction Cost <br />iv. Engineering <br />v. Legal <br />page 5 <br />