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Attachment F Engineering Coordination H.. A City Engineering Coordinator shall be assigned to this project to 1 provide further protection for the City against defects and deficiencies in the work and 2 improvements through the observations of the work in progress and field checks of materials and 3 equipment. However, the furnishing of such engineering coordination will not make the City 4 responsible for construction means, methods, techniques, sequences or procedures or for the safety 5 precautions or programs, or for the Contractors failure to perform its work in accordance with the 6 Development Plans. The Developer is obligated to pay the City for engineering coordinationan 7 amount equal to 4% of the estimated cost of the Public Improvements, which amount is $9000. This 8 amount shall be paid at or prior to the execution of this Agreement. 9 Security. I. To guarantee compliance with the terms of this Agreement, payment of the cost of all 10 Public Improvements and construction of all Public Improvements, the Developer shall furnish 11 either: a) a cash deposit, or b) an irrevocable letter of credit for $275,000.00 in a form to be approved 12 by the City (the “Financial Security”). The amount of the Financial Security is 125% of the 13 estimated cost to construct the Public Improvements. The City shall have the right to draw on the 14 Financial Security in the event that the Developer fails to perform any of its obligations under this 15 Agreement. 16 Reduction of Security. 1. Periodically upon the Developers written request, the City 17 Engineer may reduce the amount of the Financial Security for completed Public 18 Improvements provided the following conditions are met: 19 a)The Developer’s engineer certifies that the Public Improvements have been 20 constructed to City Standards and in accordance with the Plans. 21 b)The Developer provides documentation that its contractors and all their 22 subcontractors and suppliers have been paid in full for the work completed and materials 23 supplied. 24 c)The City Engineer determines that such Public Improvements have been fully 25 completed in accordance with the Plans, specifications and provisions of this Agreement. 26 The amount of reduction shall be equal to that portion of the Financial Security which covers 27 such completed Public Improvements; provided however, in no case shall the remaining 28 amount of the Financial Security be less than the greater of: (i) 25% of the original amount of 29 the Financial Security, or (ii) 125% of the estimated cost to complete the Public 30 Improvements which have not been completed as determined by the City Engineer. 31 32 Release of Security 2.. After the work described in this Agreement has been completed, 33 the Developer may request that the City accept the Public Improvements. This is 34 accomplished through a City Council resolution provided the following conditions are 35 met: 36 As-built Survey a). The Developer shall provide an as-built survey upon completion of 37 the Public Improvements described in Article III C in reproducible and digital 38 (AutoCAD) format. The locations and elevations of sewer and water services shall be 39 accurately shown on the survey. 40 Certification. b)The Developer’s engineer submits a letter certifying that the Public 41 Improvements have been constructed to City Standards in accordance with the Plans and 42 requests that the City accept the Public Improvements. 43 Page 5 of 15