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shall expire no sooner than one year after the completion date specified in Section Four(4) above, to allow for at least one freeze-thaw cycle for settlement. 6. Fees and Expenses. The Developer agrees to pay all City fees required per the current City Fee Schedule and further agrees to completely reimburse the City for all the variable additional expenses it incurs in regard to the review and approval of the Improvements including, but not limited to, direct City payroll and overhead, costs, and fees paid to consultants and other professionals. Developer shall establish a Construction Escrow with the Ciry in the amount of$5,000.00 to ensure payment of fees and expenses. 7. Resolutions of City. Developer agrees to be bound by the provisions set forth in all resolutions of the City Council approving the Development. 8. Binding Effect. The terms and provisions hereof shall be binding upon and inure to the benefit of the heirs, representatives, successors and assigns of the parties hereto and shall be binding deemed covenants running with the land. References herein to Developer, if there be more than one, shall mean each and all of them. This Agreement, to be executed by the Developer, shall be placed of record so as to give notice hereof to subsequent purchasers and encumbrancers of all or any part of the subdivision and all recording fees, if any, shall be paid by the Developer. 9. Notices. Required notices to the Developer shall be in writing, and shall be either hand delivered to the Developer, their employees or agents, or mailed to the Developer by registered mail at the following addresses: Notice to City Notice to Developer City of Orono c/o George W. Stickney Clerk/Administrator Coldwell Banker Burnet P.O. Box 66 201 East Lake Street Crystal Bay, MN 55323 Wayzata, NI�T 55391 10. Incorporation by Reference. All plans, special provisions, proposals, specifications and coniracts far the Improvements furnished and let pursuant to this Agreement shall be and hereby are made a part of this Agreement by reference as fully as if set out herein in full. 1 l. Disclaimer by City. It is understood and agreed that the City, the City Council, and the agents and employees of the City shall not be personally liable or responsible in any manner to the Developer or Developer's contractors, subcontractors, materialmen, laborers, or any other person, firm or corporation, for any debt, claim, demand, damages, actions, or causes of action of any kind or character, arising out of or by reason of the execution of this agreement or the performance and completion of the Improvements. Page 4 of 7 Initials of Developer �� Initials of City Clerk_,�,�