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f. The neighboring property and adjacent public streets shall be kept free of <br /> • construction debris at all times. The construction site shall be managed so <br /> not to become a nuisance. Under no circumstance during the construction <br /> period shall construction workers, construction equipment or construction <br /> materials enter, disturb, or damage neighboring properties. <br /> 4. Builder Requirements <br /> a. Demonstrate financial capability by providing: <br /> (1) A statement from a financial institution of sufficient construction <br /> capital <br /> (2) A letter of credit of the value of the lot <br /> (3) A summary of the financial conditions of the company <br /> (4) Evidence of a construction loan or ability to secure one <br /> b. Possess adequate Builder's Risk, Comprehensive General Liability and <br /> Worker's Compensation insurance coverage. <br /> c. Posses a Home Owners Warranty insurance or equivalent to perform <br /> warranted repairs required by Minnesota State Statute. <br /> • d. Provide references from: <br /> (1) Five customers; <br /> (2) . Three major suppliers, one being the construction lumber supplier; <br /> (3) Building Inspectors from two cities in which the builder has <br /> constructed new housing within the past three years. <br /> e. Provide information on inventory of homes that builder currently has under <br /> construction. <br /> 5. Buyer Requirements if applicable <br /> a. Must be pre-approved for permanent financing prior to allow signing of <br /> Contract for Private Development. <br /> • Page 3 <br />