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Attachment A 1 Time of Performance. The Developer shall complete all Public Improvements and Private 2 Improvements by January 31, 2022. The Developer may, however, forward a request for an extension 3 of time to the City, which shall not be unreasonably withheld or denied. If an extension is granted, it 4 shall be conditioned upon updating the security posted by the Developer to reflect cost increases and 5 the extended completion date. 6 Inspection. The Developer shall provide or shall cause its general contractor to provide the services 7 of a Project Representative and assistants at the site toprovide daily observation of the work to be 8 performed and the improvements to be constructed under this Agreement. 9 1. The Developer shall provide the City Engineer a minimum of one business day notice prior to 10 the commencement of the underground pipe laying and service connection; and prior to subgrade, 11 gravel base and bituminous surface construction. 12 2. Developer’s failure to comply with the terms of this section shall permit the City Engineer to 13 issue a stop work order which may result in a rejection of the work and which shall obligate the 14 Developer to take all reasonable steps, as directed by the City Engineer to ensure that the 15 improvements are constructed and inspected pursuant to the terms of this Agreement. 16 Engineering Coordination. A City Engineering Coordinator shall be assigned to this project to 17 provide further protection for the City against defects and deficiencies in the Public Improvements 18 through the observations of the work in progress and field checks of materials and equipment. 19 However, the furnishing of such engineering coordination will not make the City responsible for 20 construction means, methods, techniques, sequences or procedures or for the safety precautions or 21 programs, or for the Contractor’s failure to perform itswork in accordance with the Plans. The 22 Developer is obligated to pay the City for City inspection services an amount equal to 4% of the 23 estimated cost of the Public Improvements, which amount is $2,773.00. This amount shall be paid at 24 or prior to the execution of this Agreement. 25 Security. To guarantee compliance with the terms of this Agreement, payment of the costs of all 26 Public Improvements and construction of all Public Improvements, the Developer shall furnish, on or 27 before the date of issuance of a building permit for the Project, either: a) a cash deposit, or b) an 28 irrevocable letter of credit for $86,641.00in a form to be approved by the City (the “Financial 29 Security”). The amount of the Financial Security is 125% of the estimated cost to construct the Public 30 Improvements. The City shall have the right to draw upon and use the Financial Security in the event 31 that the Developer fails to perform any of its obligations under this Agreement after providing not less 32 than thirty (30) days’ written notice and right to cure to the Developer. 33 1. Reduction of Security. Periodically, upon the Developer’s written request, the City Engineer 34 may reduce the amount of the Financial Security for completed Public Improvements provided the 35 following conditions are met: 36 a)The Developer’s engineer certifies that the Public improvements have been constructed 37 to City Standards and in accordance with the Plans. 38 b) The Developer provides documentation that its contractors and all their subcontractors 39 and suppliers have been paid in full for the work completed and materials supplied. 40 c)The City Engineer determines that such Public Improvements have been fully 41 completed in accordance with the Plans and provisions of this Agreement. Page 4 of 15