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<br />LA515-110-838683.v10 <br />Landscaping Improvements shall be retained by the City until: (1) all <br />Landscaping Improvements have been fully completed and accepted by <br />the City, including all corrective work and warranty punch list items being <br />completed by the Developer; (2) all financial obligations to the City have <br />been satisfied; and (3) the warranty period has expired. <br /> E. It is the intent of the parties that the City at all times have available to it <br />Security in an amount adequate to ensure completion of all elements of the <br />Subdivision Improvements and other obligations of the Developer under <br />this Agreement, including fees or costs due to the City by the Developer. <br />To that end and notwithstanding anything herein to the contrary, all <br />requests by the Developer for a reduction or release of the Security shall <br />be evaluated by the City in light of that principle. <br />34. SUMMARY OF CASH REQUIREMENTS. The following is a summary of the cash <br />requirements under this Agreement which must be paid to the City prior to the execution of this <br />Agreement by the City: <br />Park Dedication: $380,000 <br />City Engineering Administration Escrow: $50,000 <br />TOTAL CASH REQUIREMENTS: $430,000 <br /> <br /> <br />35. NOTICES. Required notices to the Developer shall be in writing, and shall be either hand <br />delivered to the Developer, their employees or agents or mailed to the Developer by certified mail <br />at the following addresses: Hendrix Apartments, LLC, 900 N. Third Street, Minneapolis, MN <br />55401, Attn: General Counsel (JWelk@sr-re.com). Notices also may be delivered to the <br />Developer via email to the above email addresses, provided that a hard copy of the notice is also <br />delivered by certified mail or hand delivery. Notices to the City shall be in writing and shall be <br />either hand delivered to the City Administrator or mailed to the City by certified mail in care of the