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Attachment F Payment. c) The Developer provides documentation that its contractors and their 1 subcontractors and suppliers have been paid in full for the work completed and the 2 materials supplied. 3 Determination of Completion. d) The City Engineer and the City Council have 4 determined that all Public Improvements have been completed in accordance with the 5 Plans, specifications and terms of this Agreement. 6 The date of City acceptance of the Public Improvements shall be the date of the City Council 7 resolution accepting the Public Improvements 8 In the event that a Letter of Credit is given as the Financial Security the term of any Letter of 9 Credit provided by the Developer must be at least one year. Notwithstanding anything to the 10 contrary contained herein, in the event that: i) some or all of the Public Improvements have 11 not been completed and accepted by the City before the expiration date of the Letter of 12 Credit, ii) the City has been notified that the Letter of Credit is not being extended for 13 another term of at least one year, and iii) no replacement Letter of Credit satisfactory to the 14 City has been delivered to the City, the City shall have the right to draw on the full amount of 15 the Letter of Credit at any time prior to the expiration of the Letter of Credit. In the event of 16 such draw on the Letter of Credit, the City shall have the right to use the amount drawn to 17 complete any unfinished Public Improvements, perform any unperformed obligations of the 18 Developer, pay the costs to draw on the Letter of Credit and/or pay any costs to enforce this 19 Agreement. The Letter of Credit shall allow Partial Draws and shall provide that a draw can 20 be made on the Letter of Credit at a location whichis in or within 30 miles of the City of 21 Roseville. 22 Ownership of Improvements and Risk of Loss J.. Upon completion and City acceptance of the 23 Public Improvements, all Public Improvements lying within public easements and right-of-ways 24 shall become City property without further notice or action. The Developer shall be responsible for 25 the risk of loss of all Public Improvements constructed by the Developer until ownership thereof 26 passes to the City. Any damage or destruction, in whole or in part, to any Public Improvement 27 constructed by the Developer shall be repaired and/or replaced by the Developer until ownership of 28 such Public Improvement passes to the City. The following special requirements shall apply with 29 respect to the maintenance of Public Improvements which have been completed and accepted by the 30 City: Public Improvement Easement and Maintenance Agreement. A Public Improvement Easement 31 and Maintenance Agreement in a form and content satisfactory to the City shall be entered into by 32 the City and the Developer and recorded by the Developer at the time this Agreement is recorded. 33 Warranty. K.The Developer shall install and construct the Public Improvements in accordance with 34 the terms and conditions of this Agreement. The Developer warrants the Public Improvements and 35 all work required to be performed by the Developer hereunder against poor material and faulty 36 workmanship for a period of two (2) years after its completion by the Developer and acceptance by 37 the City. The Developer shall repair or replace as directed by the City and at the Developer’s sole 38 cost and expense: (i) any and all faulty work, (ii) any and all poor quality and/or defective materials, 39 and (iii) any and all trees, plantings, grass and/or sod which are dead, are not of good quality and/or 40 are diseased, as determined in the sole but reasonable opinion of the City or its Engineer, provided 41 the City or its Engineer gives notice of such defect to Developer with respect to such items on or 42 before 60 days following the expiration of the two year warranty period. The Developer shall post 43 Page 6 of 15