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Attachment J I installed no later than September 30, 2012. The Developer may, however, forward a request for an 2 extension of time to the City. If an extension is granted, it shall be conditioned upon updating the 3 security posted by the Developer to reflect cost increases and the extended completion date. 4 G. Inspection. The Developer shall provide the services of a Residential Project Representative and 5 assistants at the site to provide continuous observation of the work to be performed and 6 improvements to be constructed under this Agreement. 7 1. The Developer shall provide the City Engineer a minimum of one business day notice: (i)i 8 prior to the commencement of the underground pipe laying and service connection, and 9 (ii), prior to sub grade, gravel base and bituminous surface construction. 10 2. Developer's failure to comply with the terms of this section shall permit the City I I Engineer to issue a stop work order which may result in a rejection of the work and 12 which shall obligate the Developer to take all reasonable steps, as directed by the City 13 Engineer, to ensure that the improvements are constructed and inspected pursuant to the 14 terms of this Agreement. Such failure shall further result in the assessment of a penalty 15 upon the occurrence of each such failure to comply, in an amount equal to I% of the 16 amount of the security required for such improvements, which penalty the Developer 17 agrees to pay upon demand. 18 H. Engineering Coordination. A City Engineering Coordinator shall be assigned to this project to 19 provide further protection for the City against defects and deficiencies in the work and 20 improvements through the observations of the work in progress and field checks of materials and 21 equipment. However, the furnishing of such engineering coordination will not make the City 22 responsible for construction means,, methods, techniques, sequences or procedures or for the safety 23 precautions or programs, or for the Developer's failure to perform its work in accordance with the 24 Public Improvement Construction Plans. The Developer is obligated to pay the City for City 25 inspection services an amount equal to 2% of the cost of the public improvements, which 2% 26 amount is $,37,74 �. This amount shall be paid upon or prior to the execution of this Agreement. 27 I. Security. To guarantee compliance with the terms of this Agreement,, payment of the costs of all 28 Public Improvements and construction of all Public Improvements, the Developer shall furnish an 29 irrevocable letter of credit for $,2,,358,580 in a form to be approved by the City. The amount of the 30 letter of credit is 125% of the cost for this project. 31 1. Reduction of Security. Periodically upon the Developers written request,, the City 32 Engineer may reduce the amount of the Letter of Credit for completed Public 33 Improvements provided the following conditions are met.- 34 a), The Developer" s engineer certifies that the Public Improvements have been 35 constructed to City Standards in accordance with the Plans. 36 b), The Developer provides documentation that its subcontractor(s), and all 37 subcontractors and suppliers have been paid in full for the work completed and materials 38 supplied. 39 c), The City Engineer determines that such Public Improvements have been fully 40 completed in accordance with the Plans and provisions of this Agreement. 41 The amount of reduction shall be equal to that portion of the Letter of Credit which covers 42 such completed Public Improvement(s),. , provided however, in no case shall the remaining Page 5 of 15