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152229v01 <br />SMM:06/07/2010 <br />7 <br />engineer on status or problems regarding the project, coordination for final inspection and acceptance, <br />project monitoring during the warranty period, and processing of requests for reduction in the “security.” <br />Fees for this service shall be at standard hourly rates. These fees shall be billed monthly, and paid out of <br />and drawn against the escrow account 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 others that <br />work required by this Contract has been performed, the sums due them have not been paid, and the laborers, <br />material, or others are seeking payment from the City, the Developer hereby authorizes the City to <br />commence an interpleader action pursuant to Rule 22, Minnesota Rules of Civil Procedure for the District <br />Courts, to draw upon the “security” in an amount up to 125 percent of the claim(s) and deposit the funds in <br />compliance with the Rule, and upon such deposit, the Developer shall release, discharge, and dismiss the <br />City from any further proceedings as it pertains to the funds deposited with the District Court, except that <br />the Court shall retain jurisdiction to determine attorneys' fees pursuant to this Contract. <br />20.STORM WATER AND DRAINAGE TRUNK FEE. The Land is subject to the <br />standard Storm Water and Drainage Trunk Fee of: Lot 1 ($3,050.00 per acre x 2.37 gross acres = <br />$7,288.50) plus Lot 2 ($3,050.00 per acres x 4.0 adjusted gross acres* = $12,200.00). <br />Lot 1 $7,288.50 plus Lot 2 $12,200.00 = $19,428.50 <br />* Maximum fee established in the fee scheduled. <br />21.PARK DEDICATION FEE. The Land is subject to the standard Park Dedication <br />Fee requirement for the City of Orono . Because the value of each newly created lot in the Plat will be in <br />excess of the threshold value of $69,375.00, the eight percent (8%) park fee cap of $5,500.00 per lot will <br />apply; therefore, the Park Dedication Fee is calculated as follows: <br />1 lot x $5,550.00 per lot = $5,550.00 <br />22.LANDSCAPING. All landscaping shall be installed in accordance with the approved <br />landscape plan. <br />218