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125 Bayside Trail - 06-117-23-22-0029
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Development contract
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Entry Properties
Last modified
8/22/2023 5:25:16 PM
Creation date
9/10/2015 12:10:54 PM
Metadata
Fields
Template:
x Address Old
House Number
125
Street Name
Bayside
Street Type
Trail
Address
125 Bayside Tr
Document Type
Land Use
PIN
0611723220029
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These fees shall be billed monthly, and paid out of and drawn against the escrow account <br /> established by Developer for payment of all City consultant fees. <br /> 19. CLAIMS. In the event that the City receives claims from labor, material, or <br /> others that work required by this Contract has been performed, the sums due them have not been <br /> paid, and the laborers, material, or others are seeking payment from the City, the Developer <br /> hereby authorizes the City to commence an interpleader action pursuant to Rule 22, Minnesota <br /> Rules of Civil Procedure for the District Courts, to draw upon the "security" in an amount up to <br /> 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 <br /> as it pertains to the funds deposited with the District Court, except that the Court shall retain <br /> jurisdiction to determine attorneys' fees pursuant to this Contract. <br /> 20. STORM WATER AND DRAINAGE TRUNK FEE. The Land is subject to <br /> the standard Storm Water and Drainage Trunk Fee of$3,840.00 per acre calculated as follows: <br /> $3,840.00 per acre x 13.72 total acres = $52,684.80 <br /> 21. PARK DEDICATION FEE. The Land is subject to the standard Park <br /> Dedication Fee requirement for the City of Orono. Because the value of each newly created lot <br /> in the Plat will be in excess of the threshold value of $69,375.00, the eight percent (8%) park <br /> fee cap of $5,500.00 per lot will apply; therefore, the Park Dedication Fee is calculated as <br /> follows: <br /> 5 lots x $5,550.00 per lot = $27,750.00 <br /> 22. LANDSCAPING. All landscaping shall be installed in accordance with the <br /> approved landscape plan. <br /> 8 <br /> 169371v5 <br />
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