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street maintenance, and landscaping. If the security items are not completed <br />within six months of start of construction, excluding the time between <br />November 1 and April 1, or upon the builder filing bankruptcy, or if the job is <br />abandoned for 30 days or more, the city may enter the lot, perform the work, <br />and apply the security toward the cost, plus administrative fees. <br />C. Action against the financial security. The city shall use the security to finance <br />remedial work undertaken by the city, or a private contractor under contract <br />to the city including a fee to the city for processing equal to 10% of the any <br />contractor(s) invoice for materials and services, to reimburse the city for all <br />costs incurred in the process of remedial work including, but not limited to, <br />staff time, engineering fees and attorney’s fees. <br />D. Maintenance of financial security. If at any time the financial security is <br />drawn upon, the applicant may be required to submit additional security to <br />restore the security to the full amount as originally established. Restoring the <br />full security is a requirement prior to resuming work on the site <br /> <br />SECTION 3. Effective Date. This ordinance shall become effective immediately upon <br />adoption and publication in the official newspaper of the City of Lake Elmo. <br /> <br />SECTION 4. Adoption Date. This Ordinance 08-65 was adopted on this fifteenth day <br />of January 2013, by a vote of 4 Ayes and 0 Nays. <br /> <br /> <br /> <br /> LAKE ELMO CITY COUNCIL <br /> <br /> <br /> ______________________________ <br /> Mike Pearson, Mayor <br /> <br /> <br />ATTEST: <br /> <br /> <br /> _______________________________ <br />Adam Bell, City Clerk <br /> <br /> <br />This Ordinance 08-65 was published on the 30th day of January , 2013.