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personally or mailed by United States mail to the addresses <br />hereinafter set forth by certified mail (return receipt requested). <br />Such notice or demand shall be deemed timely given when delivered <br />personally or when deposited in the mail in accordance with the above. <br />The addresses of the parties hereto are as follows, until changed <br />by notice given as above; <br />If to the City at: <br />If to the Developer at: <br />8. RELEASE OF SECURITY' <br />Mr. Robert Lee Overby <br />City Administrator <br />Lake Elmo City Office <br />3880 Laverne Avenue North <br />Lake Elmo, Minnesota 55042 <br />Mr. Willard Morton <br />3140 Chowen Avenue South <br />Minneapolis, Minnesota 55416 <br />Upon partial performance by the Developers of the terms of this <br />Agreement, the City will release to the Developers cash deposited in <br />escrow with the City in accordance with this Agreement. The amount to <br />be released shall be determined by the City Engineer with approval by <br />the City Council after the receipt of bills for work completed and <br />inspected. The City shall retain an amount necessary to complete any <br />remaining improvements plus twenty-five percent (25%)- <br />9. FINAL FLAT APPROVED <br />The City agrees to give finalapprovalto the plat of the <br />Subdivision upon execution and delivery of this agreement and all <br />required petitions, easements, bond, security and fees. <br />10. INCORPORATION BY REFERENCE <br />All plans, special provisions,'proposals, specifications and <br />contracts for the improvements furnished and let pursuant to this <br />Agreement shall be and hereby are made a part of this agreement by <br />reference as fully as if set out herein in full. <br />7 <br />