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27 <br />LA515\160\1053952.v2 <br />for Construction Categories 2-5 in an amount not to exceed fifty (50) percent of the <br />initial Security amount. This one-time Security reduction does not apply to <br />Categories 4-5 if boulevard sidewalks or trails have not been installed. <br />35. SUMMARY OF CASH REQUIREMENTS. The following is a summary of the cash <br />requirements under this Agreement that must be paid to the City before recording the final plat: <br />Sewer Availability Charge (SAC): $162,000 <br />Water Availability Charge (WAC): $162,000 <br />Park Dedication: $169,041 <br />Street Light Operating Fee: $3,160 <br />City Engineering Administration Escrow: $50,000 <br /> <br />TOTAL CASH REQUIREMENTS: $546,201 <br /> <br /> <br />36. NOTICES. Required notices to the Developer shall be in writing, and shall be either hand <br />delivered to the Developer, its employees or agents, or mailed to the Developer by certified mail <br />at the following address: John Rask at: 5354 Parkdale Drive, Suite 100, St. Louis Park, MN 55416. <br />Notices to the City shall be in writing and shall be either hand delivered to the City Administrator <br />or mailed to the City by certified mail in care of the City Administrator at the following address: <br />Lake Elmo City Hall, 3880 Laverne Avenue N., Lake Elmo, Minnesota 55042. <br />37. EVIDENCE OF TITLE. The Developer shall furnish the City with evidence of fee <br />ownership of the property being platted by way of a title insurance policy dated not earlier than 30 <br />days prior to the execution of the plat. <br />38. COMPLIANCE WITH LAWS. The Developer agrees to comply with all laws, <br />ordinances, regulations, and directives of the state of Minnesota and the City applicable to the <br />Subdivision. This Agreement shall be construed according to the laws of the Minnesota. <br />39. SEVERABILITY. In the event that any provision of this Agreement shall be held invalid, <br />illegal, or unenforceable by any court of competent jurisdiction, such holding shall pertain only to <br />such section and shall not invalidate or render unenforceable any other provision of this <br />Agreement.