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Excavation License Page 4 <br /> --------------------------- <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$5,000. 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 /> Mineral Excavation Ordinance and of this License and to pay any expense the City <br /> may incur by reason of doing anything required to be done by the Licensee. The <br /> bond or cash escrow shall remain in full force and effect for a minimum period of <br /> one (1) year after expiration of this License to guarantee the required rehabilitation <br /> as well as the other requirements herein provided. <br /> Kristin Mroz Dated <br /> Environmental Technician <br /> Tina Allard Dated <br /> City Clerk <br /> Mayor John Dietz Dated <br /> City of Elk River Mayor <br />