Bennetts Northern Woods 2018 - Laserfiche WebLink

Home Browse Search

18. CITY ENGINEERING ADMINISTRATION AND CONSTRUCTION OBSERVATION. The Developer shall pay a fee for engineering administration. City engineering administration will include monitoring of construction observation,consultation with Developer and its engineer on status or problems regarding the project, coordination for final inspection and acceptance,project monitoring during the warranty period, and processing of requests for reduction in the "security." Fees for this service shall be at standard hourly rates. These fees shall be billed monthly. Contemporaneously with the execution of this Contract, the Developer shall deposit $10,000.00 cash with the City ("Escrow"). All accrued interest, if any, shall be paid to the City to reimburse the City for its cost in administering the escrow account.The purpose of the Escrow is to guarantee reimbursement to the City for all out-of-pocket costs (including, but not limited to, planning,engineering oversight,or legal consultant review)the City has incurred or will incur related to the Development and for all out-of-pocket costs the City has incurred or will incur to assure that the work is completed in accordance with the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. The Escrow may also be used by the City to eliminate any hazardous conditions associated with the work and to repair any damage to public property or infrastructure that is caused by the work associated with this Contract, if compliance with the terms of this Contract are not accomplished. As the City receives consultant bills far incurred costs, the City will in turn send a bill to the Developer. The Developer shall be responsible for payment to the City within 30 days of the Developer's receipt of bill.In the event that the Developer does not make payment to the City within the timeframe outlined in this Section, the City may immediately draw from the escrow account without further approval of the Developer to reimburse the City for eligible expenses the City 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. STORM WATER AND DRAINAGE TRUNK FEE. The Land is subject to the standard Storm Water and Drainage Trunk Fee for three new %z acre lots at $6,050.00 per acre. $6,050.00 per acre x [3 lots at 0.5 acres each= 1.5 acres] _$9,075.00 180976 6 196841v4