Laserfiche WebLink
( Developers agree to pay the reasonable and actual cost to the <br />City of the completion thereof. In either case, Developers <br />agree to pay, in addition to the cost of completing said im- <br />provements, any reasonable legal, engineering or other fees or <br />expenses incurred by the City in connection with the completion <br />thereof or the enforcement of. this Agreement upon default 'of the <br />Developers. <br />5. Performance Bond. Prior to the approval of the final. <br />plat or the issuance of any building permits for improvements <br />within the said development, the Developers shall deliver to the <br />City Clerk a "Cash Performance bond" in an amount equal. to the <br />estimated cost of completing the specific improvements plus <br />twenty-five percent (25%). This amount shall be determined by <br />the City Engineer. Said Cash Performance Bond shall secure <br />Developers performance of this Agreement. The estimated cost of <br />the said work is as follows: <br />Type of Improvement Estimated Cost of Improvement <br />Street Improvement $8,700.00 <br />6. Drainage Improvements. It is understood that Developers <br />are not at present obligated to supply a Performance Bond, cash <br />deposit, or letter of credit for drainage improvements including <br />certain catch basins and piping. However, Developers shall in -- <br />stall. such drainage improvements at such time as the street im- <br />provements are installed. <br />7. Developers Representations. Developers further repre- <br />sent and agree that the farm home located north of the Develop- <br />ment and owned by Developers shall not be used as a residential <br />dwelling so long as the improvements outlined herein remain un <br />-4- <br />