Laserfiche WebLink
<br />7 <br /> <br />220299v4A <br />period, and processing of requests for reduction in the “security.” Fees for this service shall be at standard hourly <br />rates. These fees shall be billed monthly. All fees and costs incurred by the City in connection with this Development <br />shall be charged against said escrow account which shall remain in effect until the completion of this Development. <br />Any funds remaining in the escrow accounts after the completion of this Development shall be refunded to the <br />Developer. In the event that the escrow account herein is depleted to $5,000.00, Developer agrees that upon request <br />of the City, Developer shall post additional sums of money to replenish the accounts to their original balance to <br />cover projected City costs as determined by the City. Developer agrees that the escrow account shall always have a <br />balance of no less than $1,000.00. Developer shall be entitled, upon request, to an itemized statement of all costs <br />and fees charged against this escrow account. Developer shall pay all fees relating to the Development including, <br />but not limited to, legal, engineering, planning, and recording fees. <br /> 19. CLAIMS. In the event that the City receives claims from labor, material, or others that work <br />required by this Contract has been performed, the sums due them have not been paid, and the laborers, material, or <br />others are seeking payment from the City, the Developer hereby authorizes the City to commence an interpleader <br />action pursuant to Rule 22, Minnesota Rules of Civil Procedure for the District Courts, to draw upon the “security” <br />in an amount up to 125 percent of the claim(s) and deposit the funds in compliance with the Rule, and upon such <br />deposit, the Developer shall release, discharge, and dismiss the City from any further proceedings as it pertains to <br />the funds deposited with the District Court, except that the Court shall retain jurisdiction to determine attorneys' fees <br />pursuant to this Contract. <br /> 20. STORM WATER AND DRAINAGE TRUNK FEE. The Land is subject to the standard Storm <br />Water and Drainage Trunk Fee for the two new lots (Lot 1 and Lot 3): <br />2 lots x $8,060.00 per lot = $16,120.00 <br /> 21. WATER CONNECTION FEE. Not applicable. <br /> 22. SEWER CONNECTION FEE. Not applicable.