Laserfiche WebLink
account which shall remain in effect until the completion of this Development. Any funds <br />remaining in the escrow accounts after the completion of this Development shall be refunded to <br />the Developer. In the event that the escrow account herein is depleted to $5,000.00, Developer <br />agrees that upon request of the City, Developer shall post additional sums of money to replenish <br />the accounts to their original balance to cover projected City costs as determined by the City. <br />Developer agrees that the escrow account shall always have a balance of no less than $1,000.00. <br />Developer shall be entitled, upon request, to an itemized statement of all costs and fees charged <br />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 <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 <br />proceedings as it pertains to the funds deposited with the District Court, except that the Court <br />shall retain jurisdiction to determine attorneys' fees pursuant to this Contract. <br />20. STORM WATER AND DRAINAGE TRUNK FEE. The Land is not subject to <br />the standard Storm Water and Drainage Trunk Fee. The fee was paid with the 2007 Crystal Bay <br />Business Center and was reviewed by the City Council under Resolution 7595 <br />21. WATER AND SEWER AREA CONNECTION FEES. The city determined <br />that the units identified by the Met Council should be used to apply the water and sewer area <br />235929v3