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<br />H. The association may adjust the assessment to meet changing needs. <br /> <br />18 . Waste Refuse Containers. All waste refuse and recycling containers of any type on <br />the Subject Property shall be located at all times within a fully enclosed building. <br /> <br />19. Private Streets. All streets within the Subject Property are private streets and shall be <br />maintained by the homeowner's association to be created under Paragraph 17. <br /> <br />20. Tree Preservation/Reolacement Plan. Developer shall submit to the City for its <br />approval, a tree preservation/replacement plan which shall identify the sizes and <br />species of all significant trees per the Tree Preservation Policy for replacement. <br /> <br />21. Letter of Credit and Inspection Escrows. <br /> <br />A. Before Developer begins any grading on the Subject Property, Developer or <br />Developer's contractor shall post with the City a letter of credit or escrow in <br />the amount of 125% of the grading cost. <br /> <br />B. Before the Developer begins any street and utility construction, Developer <br />shall post with the City a letter of credit or cash escrow in the amount of <br />125% of the street and utility improvement costs. Additionally, before any <br />grading or street and utility construction commences, Developer shall also <br />post the cash escrow in an amount determined by the City's Public Works <br />Director to reimburse the City for inspection fees that incur for the grading, <br />street and utility construction inspections. Before Developer begins any <br />grading or any street or utility construction, Developer shall provide City with <br />proof of liability and insurance in an amount of at least one million dollars. <br />City shall also be named as an additional insured on all liability insurance <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 />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 />Developer financed and constructed grading and/or street and utility <br />improvements, the Developer must submit a maintenance bond from <br />Developer's contractor in the amount of 20% of the improvement costs, <br />covering a period of one year after City acceptance of the improvements. <br /> <br />E. Privately Constructed Improvements - fu the event the Developer elects to <br />pay one hundred percent (100%) of all costs incurred for installation of the <br />improvements outside of the normal assessment procedure, Developer may <br />do so provided Developer complies with the following requirements: <br />