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Lakeland Hills CITY COPY Development Agreement Revised July 7, 1997 4) Where the topsoil is removed, sufficient arable soils shall be set aside for respreading over the developed area. The topsoil shall be restored to a depth of at least four (4) inches and shall be of a quality at least equal to the soil quality prior to development and the Developer shall install four (4) inches of topsoil on all boulevards and seed or sod as approved by the City. The Developer shall make all necessary adjustments to the curb stops to bring them flush with the topsoil (before occupancy). All disturbed areas shall be seeded. The quality of the top soil restored shall be equivalent to the top soil on the development prior to the removal. d. Inspection. All of the work shall be under and subject to the inspection and approval of the City and the City Engineer and, where appropriate, any other governmental agency having jurisdiction. e. Easements. The Developer shall make available to the City, at no cost to the City, all permanent or temporary easements necessary for the installation and use of the both the Private Improvements and the Street and Utility Improvements, as determined by the City Engineer. All such easements requested by the City shall be in writing, in recordable form, and on the standard easement form of the City and on such other terms and conditions as the City shall determine. The Developer shall be fully responsible for the recording of such easements. f. Faithful Performance of Construction Contracts and Letter of Credit. The Developer will fully and faithfully comply with all terms and conditions of any and all contracts entered into by the Developer for the installation and construction of all Private Improvements and hereby guarantees the workmanship and materials for a period of two years following the City's final acceptance of the Private Improvements. The Developer agrees to guarantee for a period of one year the tree plantings required as part of the Developer's Agreement, including one tree per lot, as per City Ordinance. Each specific tree guarantee period shall begin with the planting of each specific tree. Concurrently with the execution hereof by the Developer, the Developer will furnish to, and at all times thereafter maintain with the City, a cash deposit, certified check, or an Irrevocable Letter of Credit, based on one hundred fifty (150 %) percent of the total estimated cost of the Private Improvements as indicated in Paragraph Al. The Irrevocable Letter of Credit shall be for the exclusive use and benefit of the City of Centerville and shall state thereon the same is issued to guarantee and assure performance by the Developer of all the terms and conditions of this Development Contract and construction of all required improvements in accordance with the ordinances and specifications of the City. Such letter of Credit may be reduced upon completion and acceptance of the Private Improvements by the City to an amount deemed adequate by the City Engineer to cover the two year warranty period described herein. The City shall have the right during said warranty period to draw on the Letter of Credit for any warranty work that is necessary. The City reserves the right to draw, in whole or in part, on any portion of the Irrevocable Letter of Credit for the purpose of 260/083- 1904.feb Page 4