|
<br />.,. I' - - ,.; I"; U 0 , 1) t-i ,
<br />d fl , , , , ~, , fi , r
<br />
<br />13,
<br />
<br />
<br />th:: t{)'[.~tl ~~f.olu,.a:ied cost of the Priyate Impro'v€.tnents \l5 ind..i~a:Led iD
<br />Paragraph B 1. The L."TevGcable Letter of Credit .shall be for the exclusive
<br />UJe and benefrt ofthe City of Centervuk and shall state thereon me sarne
<br />iiJ i:;;sued to guaranty fllld assure perfurmance by the Developer of all 'the
<br />1 .... t'P '- "'1 t'" D 1 " ., .
<br />tenns anJ COtlC.nl0ilS o. l i:!.1Jl,grapU.l.,.l 0 tllIS eve opmenr :L.Ontr,lCt. SUCll
<br />L=tter of Credit may he reduced upou completion and "ccep,:ml~e of ::he
<br />Private Improvement;; by t.1je City to an JJnowt deemed ade'i',IDte by the
<br />City S'lgmeer \0 cover the tWQ yeaI' wmraaty periGd d~scribed .herein.
<br />'TIle City shall have the rig.l:tt dUring said warra1l.' eriod to Qr,v;von the
<br />Letter of Credit. tor any Viarram:y w.ork that is' 'y. 'TIle IrreyocabLe
<br />L-;ti>~r of' Cr0di~ shall be renewed or reph ot later than iiventy (20)
<br />da}Oa p.rior to its expiration \vith. a like 1 ' d4
<br />
<br />g,
<br />
<br />Reduction of Escro'v Guaranty.
<br />ofthe Letter of Credit or cash
<br />the c,ou1plered Pri\!'at~ J.J....rrpr
<br />retliJctlon. The amOU-TJ,I o:t:,.
<br />8uch recolJ:nnen.datkm vili11 be s
<br />
<br />ues! ,a. r:edm.';tiern
<br />t Ot the value of
<br />d,
<br />ityand
<br />r ;:J.'::i;jj')l1.
<br />
<br />11.
<br />
<br />leoted by the Devdop,:r to
<br />tD),13t he d-~termin.ed in
<br />_6 City fe:sc,rvr;;s the riglrt
<br />.nence and-adequate
<br />
<br />;~TRBPT ~::'j\
<br />Cirdinc.llc,:S .
<br />calbo. the "Stre
<br />
<br />~ r~l ,~.lc:"ol""l':'i"\""<,,, \It';..l-, '~hp-r.f,'11' '~~e' ,:; '-"~I:;
<br />\....I.. ~."........ ... ....... <.u.L.."" ~tJ..'. \J.,~...' ,:..... "-.l ~ a,,,,,:..L
<br />'>mptQveD:;.ents (t~reinaftel' i,,"lQHectivel?
<br />elude tht1Se .L.--uprovernents \115' described
<br />uneumentitJed Eagle Pass 2"d Additicn
<br />l$~ as ~ ed by the City Engine~r arid as adppteci 2.nrl
<br />Said improver.c,ents shall be constructed andinstaUed by
<br />'ion on the 'terms ar..d .;;anditious according IO
<br />other. irnpl'ovements specfiic to die dave.l.olJ1Uent he-rdn
<br />
<br />1. Ion. The bas2 COUrse ,~~:haJ.1 be ,;~Oinpleted befDre ,~
<br />'em course ::;ha.U 'be comp16tald befo:n~ , or
<br />;;vhen t ,~ ':iry deems ,;:.ppto:l?rime aCCOl'diDg to the progress of vV'J):rk. ,"}J). the
<br />illdivid~~il=.tJ.lo\:3.
<br />
<br />-,
<br />
<br />C":;..r.l,5tn1'~Tjon P:roGedu.r(',:~.AJ.l ,~uch i:mpr"l,Y:/~.rfle:1ts set (JUt in OrditlfulCe #8" ,S;::cliou
<br />"'0 ,_.. :j .:J ;J'.' --. "~' , . I. 111 " , . -J ,. 1
<br />uq:-;.U,l~:1f"u as alJI..iHv:maily speClDCtJ D.Cr'f;;111 Jrrd..J. c.:-e m5nt:nt<2iJ.~ CCiJ.1.SUllC"led, anc.
<br />HnUllced 85 fonC-~~;I':S:
<br />
<br />a. TO,;; Dey,::Iopcr :;;bal1 prcr'lid~ t';j- the City in ;;idtb.g tb.~ cr;nt!a-C't~lr ~;;d:,;,\::ted
<br />ty the D,jvdoper to (;Omt~cT and .insW,{ the Strz.et ~1.i.J.d ~.YtiHty
<br />
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