3.6. SR 08-04-2008 - Laserfiche WebLink

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Developer Agreement Renner 4`h Addition Page 9 time the City shall draw upon the Letter of Credit, the Developer agrees that within 10 days upon being notified of such withdrawal by the City, Developer shall either pay the deficient amount in cash to the City or have the Letter of Credit restored to its full amount 14.) Default Acceleration on Default - In the event Developer, or its heirs, successors or assigns, violates any of the covenants and agreements herein contained, or fails to pay any amount due to the city, the City, at its option, in addition to its other rights and remedies, by written notice of default given to the Developer, may declare all amounts to be paid by the Developer pursuant to this Agreement, ,due and payable in full, with interest, immediately, or on such date as the City shall specify in its notice of default to Developer. If Developer fails to make payment in the amount and at the time specified in the City's notice of default to Developer, City may, at its option, draw on the security provided by Developer pursuant to Section 8 of this Agreement and/or commence legal action against Developer to collect the entire amount owed by Developer, ,including reasonable attorneys' fees. Developer shall be personally liable for such amounts due and, if more than one, such liability shall be joint and several. 15.) Issuance of Building and OccuQancy Permits (01) Building Permits -The City will not issue any building permit (a permit issued for construction of a structure to be sold and occupied by a new owner) for any lot or parcel in the Subdivision until all small and large utilities are installed and streets are paved with the first lift of pavement. (02) Occupancy Permits -City will not issue a certificate of occupancy (said certificate will allow the structure to be transferred to a new owner for the purpose of permanent occupancy) for any building constructed on any lot or parcel in the Subdivision until all Improvements (first lift of paving only) are completed, approved by the City Engineer and accepted by the City. 16.) Miscellaneous (01) Final Plat Apbroval -The City's final approval of the Subdivision plat is hereby made conditional upon the execution and delivery of this Agreement and the City's receipt of all petitions, security and other items specified herein. (02) Filing of Final Plat and Developer Agreement -Before construction commences on the Improvements, the Final Plat of the Subdivision and this Developer Agreement must be filed and recorded and all necessary easements shall have been conveyed to the City, unless the City authorizes in writing the commencement of lirnited construction activities. (03) Incorporation by Reference -All plans, special provisions, proposals, specifications and contracts for the Improvements to be made pursuant to this Agreement shall be and hereby are made a part of this Agreement by reference as fully as if set forth herein in full. C:\Documents and Settings\jmiller\Local Settings\Temporary Internet Files\OLK3E\DEVELOPER AGREEMENT.doc