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,Sent by: DRB MiNNEAPOLiS 6123405584; 01/12/98 12:20PM;~ #859;Page 3/4 <br /> <br />extend City water and sanitary sewer service to adjacem and surrounding <br />properties. Owners shall also grant to the City such easements as the City shall <br />require for the Trunk Facilities over the property identified in Exhibit B to this <br />P~tition and Agreement. <br /> <br />To provide th~ City with cash, a letter of credit, or some other security acceptable <br />to the City, in its sole discretion, to protect the City in the event that development <br />ofthe Property does not proceed. The amount of the security shall be $1 o, 800.00, <br />to be provided prior to the preparation of plans and specification for the Trunk <br />Facilities. The security provided shall be forfeited, in an amount equal to the <br />City's actual costs for the preparation of Plans and/or construction of the Trunk <br />Facilities, in the event that a Developer's Agreement for development of the <br />Property is not executed prior to completion of the Trunk Facilities, <br /> <br />To pay the amounts assessed to the Property for the Tnmk Facilities as provided in <br />this Petition and Agreement. <br /> <br />Owners and Developer specifically waive any objection to the City's design and <br /> <br />installation of the Trunk Facilities, including any objection to the final design of the Trunk <br /> <br />Facilities, any objection to the final location of the Trunk Facilities, any objection to the procedure <br /> <br />pursuam to which the City orders the Trunk Facilities installed, and any objection to the City's <br /> <br />failure to strictly follow the notice and other requirements of Mirme.~ota Statutes Chapter 429 <br /> <br />with respect to ordering the Trunk Facilities installed. <br /> <br />Owners and Developer expressly waive objection to any irregularity with regard to the <br /> <br />assessment of the Property for the Trunk Facilities, expressly waive any claim that the mount <br /> <br />assessed is ~cessive, and expressly waive all rights of appeal, including any rights under <br /> <br />Chapter 429 Minnesota Statutes from the assessment by tho City for the costs of installing the <br /> <br />Trunk Facilities. <br /> <br />This Petition, Waiver and Agreement may be executed in one or more counterparts, each <br /> <br />of which shall be deemed the original, <br /> <br />540276.1 2 <br /> <br /> <br />