04-28-2003 Council Packet - Laserfiche WebLink

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■•I r'- 5. 6. 7. The City reserves the right to require satisfactory nroof of successful experience and adequate financial status of any such contractor. All contractors shall be fully licensed when required by law. It is further agreed that the Developer, through his Engineer, shall provide all staking, surveying, testing and resident inspection for the above described improvements in order to insure that the completed improvements conform to the approved plans and specifications. The City will provide for general inspection and shall be notified in advance of all tests to be performed. It is agreed that the estimated cost of such improvements, as determined bv the City, including charges of the City for legal, planning, engineering services, including inspections, supervision and administration costs, shall be included in the total costs of all improvements for purposes of computing the amount of the letter of credit to be furnished to the City by the Developer pursuant to the terms of this Agreement. Escrow. Developer shall establish and maintain an escrow account with the City of no less than $20,000 minimum balance to cover the ongoing incurred expenses of the City. The escrow account can be used bv the City to correct erosion problems or inadequate erosion control measures if these measures are not corrected in a timely manner bv the Developer upon notice to correct. In case any material or labor supplied by the Developer shall be rej ected by the City Engineer or his designated representative as defective or unsuitable, then such rejected material shall be removed and replaced with approved material and the rejected labor shall be done anew to the specifications and approval of the City Engineer and at the sole cost and expense of the Developer. 8. Construction of Improvements: a) Construction - The construction, installation and materials shall be in accordance with the plans and specifications approved by the City. The Developer agrees that he will begin construction of Phase I Improvements no later than and will have all Phase I Improvements fully completed to the satisfaction and approval of the City of Orono on or before Pre-Construction Conference - Prior to the start of any construction, the Developer and the Developer's Contractor shall meet with the responsible City officials to review construction plans and schedules. Page 9 of 18 Developer Initial, City Clerk Initial