I-3 - Resolution 2023-082 - Daytona Estates OPD Concept and Site District - Developer's Agreement

The Developer agrees to record this Agreement and to pay all necessary recording and filing fees that accrue as a result of any work that is performed under this Agreement or made necessary as a result of this Development. A copy of this recorded Agreement will be provided to the City. SECTION 12. TIME OF PERFORMANCE Developer shall install all required public improvements, except for sidewalk construction deferred in accordance with Section 3(C)(4), within two (2) years from the date of the City approval of this agreement. In the event that the Developer fails to install the required public improvements within the above-referenced time, authorization to proceed with the development shall cease, and the Developer shall be required to seek reauthorization and approval of this development, provided that Developer may request an extension of time from the City. If an extension is granted, it may be conditioned upon updating any security posted by the Developer or requiring the Developer to provide security to reflect cost increases and extended completion date. SECTION 13. NOTICES Required notices to the Developer shall be in writing and shall either be hand delivered to the Developer, its agents or employees, or mailed to the Developer by registered mail at the following address: Iowa Development Group, Inc. Attn: Matthew Adam 2916 Hwy 1 NE Iowa City, IA 52240 Notices to the City shall be in writing and shall be either hand delivered to the City Administrator or mailed to the City by registered mail in care of the City Administrator at the following address: Tiffin City Administrator 300 Railroad St., P.O Box 259 Tiffin, IA 52340 Notices mailed in conformance with this section shall be deemed properly given. SECTION 14. MISCELLANEOUS A. Third parties shall have no recourse against the City under this Agreement. B. Breach of the terms of this Agreement by the Developer shall be grounds for denial of building permits, occupancy permits or other permits.