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Excavation License Page 4 --------------------------- <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 /> <br /> <br />IV. EXPIRATION AND RENEWAL <br /> <br />This Excavation License shall expire on July 1, 2018, 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 /> <br />V. EXCAVATION LICENSE FEE <br /> <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 $11,104.60. 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 /> <br />VI. COSTS <br /> <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 /> <br />VII. SUSPENSION OR REVOCATION <br /> <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 /> <br />VIII. INDEMNIFICATION OF CITY <br /> <br />Licensee shall defend and hold the City, its officers, and employees harmless from all <br />claims made by third parties for damages sustained or costs incurred resulting form <br />excavation operations or other activities on the Property. <br /> <br />IX. SURETY BOND <br /> <br />This License is not effective until the Licensee has posted a surety bond with a surety <br />acceptable to the City, or a cash escrow, in the sum of $N/A. This amount shall be <br />conditioned to pay the City the extraordinary cost and expense of repairing, from <br />time to time, any highways, streets or other public ways where such repair work is <br />made necessary by the special burden resulting from hauling and travel removing <br />material from any pit or excavation of Licensee and conducting this year’s required <br />rehabilitation as per the yearly reclamation plan. This amount shall be conditioned <br />further upon Licensee’s compliance with all of the requirements of the Mineral