Agenda Packets - 1986/06/02 - Laserfiche WebLink

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C_ the City in the processing, review and evaluation of the prcposed development and in the inspection of all work performed pursuant to said contract. Such costs shall include but not be limited to the administrative, legal, and engineering expenses incurred herein, and such other expenses as authorized by said Chapter. 11. Developer agrees that the City can terminate development of the development site or the construction of any building struc- tures thereon if in the City Council's opinion the terms of this Development Contract have not been conformed to by the developer and the saiu Developer herein agrees to cease construction and waives its right of recourse, claim, suit or action against the City. In addition, in the event the Developer fails to conform to the tnnditinns of this Agreement, the City shall be euLiLied Lu enforce it pursuant to the terms of this contract and/or the provi- sions of the Mounds View Home Rule Charter, Chapter 26 of the Municipal Code, or applicable Minnesota Statutes. The Developer herein ag_ees that in the event the City is compelled to enforce any of the provisions of this contract by court action and judgment is rendered in favor of the City, that all costs, disbursements and reasonable attorney's fees will be paid by said Developer, its heirs, successors and assigns. 14. The Developer shall furnish to the City at the time of the execution of this Contract a cash bond, a corporate surety bond, an irrevocable letter of credit or any other negotiable instrument approved by the City Attorney, which the Developer agrees to keep in full force and effect during the term of the obligation created herein in the amount of N/A Dollars, wherein the -4-