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10.11 Landscape Bond. Prior to the commencement of site development activities by the DEVELOPER, the DEVELOPER shall have posted with the CITY a landscape bond, a letter of credit, or other security acceptable to the City in an amount equal to 150% of the cost of all site landscaping, street tree planting as per City Street Tree Master Plan, and site restoration. The specific amount of this letter of credit, bond, or other security shall be determined by the Community Development Director, following the completion of all site construction plans. 10.12 Project Signage. The project will be allowed on project identification sign in accordance with Section 1009.03 of the City Code. 10.13 Recreational Vehicles. Motorized recreation vehicles or trailers shall not be parked or stored within the development. 11. Developer's Default In the event of a default by the DEVELOPER, as to any of the work to be performed by it hereunder, the CITY may withhold the certificate of occupancy from the DEVELOPER. Notwithstanding anything herein to the contrary, the developer may convey the parcel occupied by the PUD to a third party, which conveyed parcel shall remain subject to all of the terms of the PUD specifically relating to said parcel. In that connection, the parties agree as follows: A default by the Developer, or its successors in interest, in the performance of the obligations hereunder, will not constitute a default with regard to the conveyed parcel and will not entitle the City to exercise any of its rights and remedies hereunder with respect to such conveyed parcel, so long as such conveyed parcel otherwise complies with applicable provisions of the PUD. The CITY agrees to give the DEVELOPER written notice of its default not less than thirty (30) days prior to the commencement of the CITY's work. The CITY and the DEVELOPER recognize the weather conditions may affect the ability of the DEVELOPER to perform the work required to be performed hereunder and agree that such thirty (30) days shall not include those days on which weather conditions preclude performance by the DEVELOPER. Notice to the Developer shall constitute, without further action, notice to any contractor or subcontractor. If deemed impractical by the CITY, the above notice requirements shall not be required by the CITY to control erosion problems. PUD/Subdivision Agreement#_ (Mendota Homes, Inc.) - Page 8 of 10