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