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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 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 /> IX. SURETY BOND <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 /> aut–L&OG— �', I I l l a'? <br /> Amanda Bednar, Dated <br /> Environmental Coordinator <br /> or J n Diet_ Dated <br /> City of Elk River <br />