Laserfiche WebLink
completed; that Developers shall relocate the driveway of the <br />home to be built on the Development to the satisfaction of the <br />City Engineer at such time as the improvements outlined herein <br />are completed; and that Developers understand that the City will <br />probably require the remaining three lots which abut Jasper <br />Avenue North, which were approved as part of the preliminary <br />plat of Lake Jane Estates (Teal Pass Estates), to be final <br />platted at the same time. <br />8. Release of Security. Upon partial. performance by the <br />Developers of the terms of this Agreement, the City will release <br />to the Developers cash deposited in escrow with the City in ac- <br />cordance with this Agreement-. The amount to be released shall <br />be determined by the City Engineer with approval by the City <br />1 <br />Council after the receipt of bills for work completed and <br />inspected. The City shall retain an amount necessary to com- <br />plete any remaining improvements plus twenty-five percent (25%). <br />9. 1nding Effect. The terms and provisions of this Agree- <br />ment shall be binding on and inure to the benefit of the heirs, <br />representatives, successors and assigns of the parties hereto <br />and shall be binding on all future owners of all or any part of <br />the said subdivision and shall be deemed convenants running with <br />the land. References herein to Developers, if there be more <br />than one, shall mean all of them. This Agreement at the option <br />of the city, shall be placed of record so as to give notice <br />thereof to subsequent purchasers and encumbrancers of all or any <br />part of the said subdivision. <br />10. Notices. Whenever it shall be required or permitted by <br />this agreement- that notice or demand be given or served by ei- <br />-5- <br />