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To grant to the City, prior to the City ordering installation of the <br />Improvements to proceed, such easements or other interests in the Property <br />as the City shall determine necessary for the purpose of installing the <br />Improvements, and such additional easements or property interests as the <br />City shall determine necessary to extend City water and sanitary sewer <br />service and other Improvements to adjacent and surrounding properties. <br /> <br />To pay the amounts assessed to the Property for the Improvements as <br />provided in this Petition and Agreement. <br /> <br />o <br /> <br />To provide the City with cash, a letter of credit, or some other security <br />acceptable to the City, in its sole discretion, to protect the City in the event <br />that development of the Property does not proceed. The amount of the <br />security to be submitted with this petition shall be: <br /> <br />$ , which is the City's estimated cost of a feasibility study for <br />the Improvements. <br /> <br />Additional security shall be provided prior to the preparation of plans and <br />specifications for the Improvements, in an amount equal to the City's <br />estimated costs for preparing the plans and specifications. <br /> <br />Additional security in the amount of the estimated cost of installing the <br />Improvements shall be provided before the City will order the <br />Improvements installed. <br /> <br />The security shall be forfeited, in an amount equal to the City's actual costs <br />for the feasibility study and/or the plans and specifications, or for the <br />construction of Improvements, in the event that a developer's agreement is <br />not executed. <br /> <br />Owner(s) specifically waive any objection to the City's design and installation of <br /> <br />the Improvements, including any objection to the final design of the Improvements, any <br /> <br />objection to the final location of the Improvements, any objection to the procedure <br /> <br />pursuant to which the City orders the Improvements installed, and any objection to the <br /> <br />City's failure to strictly follow the notice and other requirements of Minnesota Statutes, <br /> <br />Chapter 429 with respect to ordering the Improvements installed. <br /> <br />Owner(s) expressly waive objection to any irregularity with regard to the <br /> <br />assessment of the Property for the Improvements, expressly waive any claim that the <br /> <br />3 <br /> <br /> <br />