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05-16-05
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05-16-05
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1/12/2009 8:24:12 AM
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6/29/2005 4:10:00 PM
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<br />policies used to satisfy the requirements of this paragraph. <br /> <br />C. All letters of credit required by this Agreement shall be in a form acceptable <br /> <br />to the City and issued by a company licensed to do business in Minnesota. <br /> <br />D. Maintenance Bond - Prior to accepting or approving the completed <br /> <br />Developer financed and constructed grading and/or street and utility <br /> <br />improvements, the Developer must submit a maintenance bond from <br /> <br />Developer's contractor in the amount of 20% of the improvement costs, <br /> <br />covering a period of one year after City acceptance of the improvements. <br /> <br />E. Privately Constructed Improvements - In the event the Developer elects to <br /> <br />pay one hundred percent (100%) of all costs incurred for installation of the <br /> <br /> <br />improvements outside of the normal assessment procedure, Developer may <br /> <br />do so provided Developer complies with the following requirements: <br /> <br />1. All construction shall be in accordance with plans and specifications <br /> <br />approved by the Public Works Division. <br /> <br />2. The Developer must retain a registered civil engineer to design and <br /> <br />inspect the improvements and to certify that the improvements were <br /> <br />constructed in accordance with the approved plans. <br /> <br />3. Complete the required improvements within a two-year period. <br /> <br />4. Provide the City with reproducible as-built drawings of the <br /> <br />improvements within two months of completion of the <br /> <br />improvements. <br /> <br />17. SDecifications - InsDections. <br /> <br />8 <br />
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