10-10-2016 Council Packet - Laserfiche WebLink

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has incurred. If the balance of the escrow account is insufficient to reimburse the City its costs under this Section, the Developer will promptly reimburse the City any additional costs. If the eligible expenses incurred by the City exceed the amount in escrow and are not promptly reimbursed by the Developer, the City shall have the right to certify the unpaid balance to the subject property pursuant to Minn. Stat. §§ 415.01 and 366.012. The Balance on deposit in the escrow, if any, shall be returned to the Developer when the Development has been completed and written notification is received from the Developer requesting the funds. 19. CLAIMS. In the event that the City receives claims from laborers, material suppliers, or others that work required by this Contract has been performed, the sums due them have not been paid, and the laborers, material suppliers, or others are seeking payment from the City, the Developer hereby authorizes the City to commence an interpleader action pursuant to Rule 22, Minnesota Rules of Civil Procedure for the District Courts, to draw upon the "security" in an amount up to 125 percent of the claim(s) and deposit the funds in compliance with the Rule, and upon such deposit, the City shall be released, discharged, and dismissed from any further proceedings as it pertains to the funds deposited with the District Court, except that the Court shall retain jurisdiction to determine attorneys' fees pursuant to this Contract. 20. STORM WATER AND DRAINAGE TRUNK FEE. The Land is subject to the standard Storm Water and Drainage Trunk Fee of 57,680.00 per lot calculated as follows: $7,680.00 per lot x 3 new lots = $23,040.00 21. PARK DEDICATION FEE. The Land is subject to the standard City of Orono Park Dedication Fee requirement. Because the value of each newly created lot in the Plat will 10 Tanager Estates -v1 -mpg -2123116 10 Tanager Estates-vI-mpg-2123116 1893390 189339v3