2012 - Development Agreement - Laserfiche WebLink

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• 19. CLAIMS. In the event that the City receives claims from labor,material,or others that work required by this Contract has been performed, the sums due them have not been paid, and the laborers, material, or others are seeking payment from the City, the Developer hereby authorizes the City to commence an interpleader action pursuant to Rule 22, Minnesota Rules of Civil Procedure for the District Courts,to draw upon the"security"in an amount up to 125 percent of the claim(s) and deposit the funds in compliance with the Rule, and upon such deposit, the Developer shall release,discharge, and dismiss the City from any further proceedings as it pertains to the funds deposited with the District Court, except that the Court shall retain jurisdiction to determine attorneys'fees pursuant to this Contract. 20. STORM WATER AND DRAINAGE TRUNK FEE. The Land is subject to the standard Storm Water and Drainage Trunk Fee of$3,660 per acre calculated as follows: $3,660 per acre x 9.71 total acres=$35.539.00 21. PARK DEDICATION FEE. The Land is subject to the standard Park Dedication Fee requirement for the City of Orono. Because the value of each newly created lot in the Plat will be in excess of the threshold value of$69,375.00,the eight percent(8%)park fee cap of$5,500.00 per lot will apply;therefore,the Park Dedication Fee is calculated as follows: 2 lots x $5,550.00 per lot = $11,100.00 22. LANDSCAPING. All landscaping shall be installed in accordance with the approved landscape plan. 23. SPECIAL PROVISIONS. The following special provisions shall apply to development of the Land: Page 8 of 22 165101v2