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Excavation License Page 4 <br /> --------------------------- <br /> License and the Property into compliance with the findings and conclusions of the <br /> gravel area study and plan to be implemented by the City. <br /> N. EXPIRATION AND RENEWAL <br /> This Excavation License shall expire on July 1, 2016, as provided by Section 42-56 <br /> of the City Code. Application for renewal of this License may be made to the City <br /> Council in the form required by the Mineral Excavation Ordinance. Issuance of this <br /> License does not guarantee renewal or extension thereof. Renewal or extension of <br /> this License shall be at the sole discretion of the City council upon its review of the <br /> application for renewal. <br /> V. EXCAVATION LICENSE FEE <br /> Licensee shall promptly pay the License Application Fee and annual license fees <br /> required by Section 42-54 of the City Code, in the amount of $11,730.20. This <br /> license fee is not in lieu of the gravel tax collected by the county, a portion of which <br /> the City receives. <br /> VI. COSTS <br /> Licensee shall reimburse the City for all costs incurred in the approval, <br /> administration and enforcement of this License, including consultant and attorney's <br /> fees. <br /> VII. SUSPENSION OR REVOCATION <br /> The City Council may suspend or revoke this License pursuant to the procedures <br /> and standards set forth in Section 42-31 of the City Code. <br /> VIII. INDEMNIFICATION OF CITY <br /> Licensee shall defend and hold the City, its officers, and employees harmless from <br /> all claims made by third parties for damages sustained or costs incurred resulting <br /> form excavation operations or other activities on the Property. <br /> IX. SURETY BOND <br /> This License is not effective until the Licensee has posted a surety bond with a <br /> surety acceptable to the City, or a cash escrow, in the sum of $N/A. This amount <br /> shall be conditioned to pay the City the extraordinary cost and expense of repairing, <br /> from time to time, any highways, streets or other public ways where such repair <br /> work is made necessary by the special burden resulting from hauling and travel <br /> removing material from any pit or excavation of Licensee and conducting this year's <br /> required rehabilitation as per the yearly reclamation plan. This amount shall be <br /> conditioned further upon Licensee's compliance with all of the requirements of the <br />