Laserfiche WebLink
<br /> SE\T BY:PETERSO\ FRA~ BERG~A\ 8- 3-94 8:43A~ :PETERSO\ FRA~ BERG~~- :; 3 <br />. property of the City without further notice or action on the part <br /> of either party hereto. The City's acceptance shall in no manner <br /> prejudice any rights or claims which may subsequently accrue to the <br /> Ci ty hereunder, with respect to, among others, the Developer and <br /> any subcontractor, materialman, laborer, architect, and the <br /> engineering firm retained by the Developer. <br /> 3.9 Developer warrants and guarantees that all improvements <br /> constructed hereunder will be of good quality and free from faults <br /> and defects and in accordance with the plans and specifications. <br /> a. This warranty or guarantee shall be in effect and binding <br /> upon the Developer for the period of one (ll year after <br /> the date of the Engineer's final approval of the <br /> improvements as provided hereinabove. During the <br /> guarantee period, Developer shall be obligated upon <br /> receipt of written instructions from the Engineer, to <br /> correct all faults and deficiencies in the improvements <br /> pursuant to the Engineer's instructions. The Engineer <br /> will give prompt written notice in the manner specified <br /> by the Engineer. The Engineer will give prompt written <br /> notice of observed defects. The warranty or guarantee <br /> provided in this paragraph shall be in addition to and <br /> not in limitation of any other remedies provided <br /> hereunder or by law. <br />. b. If the Developer, after receipt of said written <br /> instructions from the Engineer, fails to proceed promptly <br /> to comply with the terms of said instructions and this <br /> warranty or guarantee, the City may have the work <br /> corrected at its own expense and the Developer shall be <br /> liable for all expenses of whatever kind incurred by the <br /> City. <br /> c. To secure this warranty or guarantee, Developer shall <br /> furnish the City with an acceptable assurance, with <br /> conditions and surety satisfactory to the City Attorney, <br /> in the sum of one hundred percent (IOO%) of the cost of <br /> the improvements, as estimated by the Engineer or as <br /> indicated by contract documents, to be in force and of <br /> effect for one (1) year after the date of the Engineer's <br /> final approval of the improvements which are the subject <br /> hereof. <br /> 3.10 Developer covenants and agrees that no house or other <br /> structure in the plat of McClung Fourth Addition shall be permitted <br /> to be occupied until such time as the Engineer issues a letter of <br /> substantial completion for the project. <br /> 3.11 As security for the full and faithful performance of its <br /> obligations under this Development Agreement, Developer sha 11 <br />. deposit with the City an acceptable assurance, with conditions and <br /> 4 <br />