1986 Resolutions - Laserfiche WebLink

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Developer, by this instrument, agrees to a one (1) year warranty, from and after approval by the City Engineer, in favor of the City covering the workmanship and material in such street and utility improvements. 3. PERFORMANCE ASSURANCE Prior to the approval of the final plat or the issuance of any building permits for this Development, the Developer shall deliver to the City Clerk a "Performance Bond", "Cash Deposit", or "Letter of Credit", in a form acceptable to the City Attorney and in an amount equal to the estimated construction cost plus twenty-five percent (25%). This amount shall be determined by the City Engineer. All streets and utilities which are intended to be owned and maintained by the City shall include: Tyne of Improvement Estimated Cost Grading and Drainage Improvements $29,813.50 Street Improvements $11,797.00 Staking and "Inspection $ 2,080.50 + 25% per Ordinance $10 909.00 Total $54,600.00 4. FEES The Developer herein agrees to pay all City fees required per City Ordinance and further agrees to completely reimburse the City for all the costs it incurs including, but not limited to, direct City payroll costs, fees paid to consultants and other professionals, and the costs of printing, mailing and supplies. In addition to the above, the Developer herein also agrees to pay the charges for City Engineering personnel time involved in consultation with the Developer and his engineer for review of grading and utility plans and general and final inspection of streets and utilities and final plat processing. 5. TIME FOR PERFORMANCE= COMPLETION BY CITY ON DEFAULT Developer agrees to complete the improvements required by this agreement or or before September 15, 1986. In the event Developers fall to complete the said Improvements within the time provided by this agreement, then the City may, at Its option, bring an action in a court of competent Jurisdiction for an order compelling Developers to complete the improvements or the City may complete the improvements or cause the same to be completed. In either case, Developers agree to pay, in addition to the cost of completing said improvements, any reasonable legal, engineering or other fees or expenses Incurred by the City in connection with the completion thereof or the enforcement of this agreement upon default of the Developer. -3-