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I d) The City Engineer and the City Council have determined that all Public 2 Improvements have been completed in accordance with the plans and specifications and 3 terms of this Agreement. 4 The date of City acceptance of the Public Improvements shall be the date of the City Council 5 resolution accepting the Public Improvements 6 The term of the Letter of Credit provided by the Developer must be at least one year. 7 Notwithstanding anything to the contrary contained herein,, in the event that.- i) some or all of 8 the Public Improvements have not been completed and accepted by the City, ii) the City has 9 been notified that the Letter of Credit is not being extended for another term of at least one 10 year, and iii) no replacement Letter of Credit satisfactory to the City has been delivered to the II City,, the City shall have the right to draw on the full amount of the Letter of Credit at any 12 time prior to the expiration of the Letter of Credit. In the event of such draw on the Letter of 13 Credit,, the City shall have the right to use the amount drawn to complete any unfinished 14 Public Improvements, perform any unperformed obligations of the Developer,, pay the costs 15 to draw on the Letter of Credit and/or pay any costs to enforce this Agreement. 16 J. Ownership of Improvements and Risk of Loss. Upon completion and City acceptance of the 17 Public Improvements, all Public Improvements lying within public rights-of-way and easements 18 shall become City property without further notice or action. The Developer shall be responsible for 19 the risk of loss of all Public Improvements constructed by the Development until ownership thereof 20 passes to the City. Any damage or destruction, in whole or in part, to any Public Improvement 21 constructed by the Developer shall be repaired and/or replaced by the Developer until ownership of 22 such Public Improvement passes to the City. 23 K. Warranty. The Developer shall install and construct the Public Improvements in accordance with 24 the terms and conditions of this Agreement. The Developer warrants the Public Improvements and 25 all work required to be performed by the Developer hereunder against poor material and faulty 26 workmanship for a period of two (2) years after its completion and acceptance by the City. The 27 Developer shall repair or replace as directed by the City and at the Developer's sole cost and 28 expense.- (i) any and all faulty work, (ii) any and all poor quality and/or defective materials, and (iii)i 29 any and all trees, grass and/or sod which are dead, are not of good quality and/or are diseased, as 30 determined in the sole but reasonable opinion of the City or its Engineer, provided the City or its 31 Engineer gives notice of such defect to Developer with respect to items (i), and (ii), on or before 60 32 days following the expiration of the two year warranty period, and with respect to item (iii), on or 33 before 60 days following the expiration of the one year warranty period. The Developer shall post 34 maintenance bonds or other security acceptable to the City to secure the warranties described herein. 35 L. Utility Company Improvements. The utility improvements include underground gas, electric, and 36 telephone service as installed by the appropriate utility company at the direction of the Developer. 37 The Developer shall arrange for the installation of underground gas, electric, telephone and cable 38 television before the final lift is started. 39 M. Park Dedication Fee. Phase I of construction consists of 48 units. The park dedication fee for the 40 Phase I of this plat shall be $,96,000 and shall be paid to the City of Roseville upon or prior to the 41 execution of this Agreement. 42 N. License. The Developer hereby grants the City, its agents, employees, officers and contractors a 43 license to enter the property contained in the plat to perform all work and inspections deemed Page 6 of 13