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Agmt 2006 Washington Springlake Properties LLC (2)
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Agmt 2006 Washington Springlake Properties LLC (2)
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Entry Properties
Last modified
10/17/2007 12:26:10 PM
Creation date
11/1/2006 9:33:08 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
3/20/2006
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PERM
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Reso 2006-028
(Approved by)
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\City Clerk\City Council\Resolutions\2006
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<br />reflect increases in the cost of constructing the required improvements that have occurred prior to the <br /> <br />granting of the extension, and the cost of additional inspection services. <br /> <br />12. No Waiver by the City. Final Acceptance. Inspection of the work and/or materials, or approval <br /> <br />of work and/or materials inspected, use of the work by the public as public right-of-way, or statement by any <br /> <br />officer, agent, or employee of the City indicating the work complies with the requirements of this <br /> <br />Agreement, shall not relieve the Subdivider from the obligation to fulfill the Agreement as prescribed <br /> <br />herein. Acceptance of any part or stage of said improvements shall not be final until a written notice of <br /> <br />acceptance of all the improvements shall have been delivered to Subdivider. <br /> <br />13. Improvement Securitv. Concurrently with the execution hereof Subdivider shall furnish City: <br /> <br />(a) Improvement security in the sum of NINE HUNDRED TWENTY-SEVEN <br /> <br />THOUSAND DOLLARS ($927,000), which sum is equal to one hundred percent (100%), of the estimated <br /> <br />cost of constructing the "required improvements" and the cost of any other obligation to be performed by <br /> <br />Subdivider hereunder, securing the faithful performance of this Agreement. <br /> <br />(b) Separate improvement security in the sum of NINE HUNDRED TWENTY-SEVEN <br /> <br />THOUSAND DOLLARS ($927,000), which sum is equal to one hundred percent (100%) of the estimated <br /> <br />cost of constructing the required improvements, security payment to the contractor, his subcontractor and to <br /> <br />persons furnishing labor, materials or equipment to them for the construction of the required improvements, <br /> <br />and for the payment of amounts due under the Unemployment Insurance Act with respect to such work or <br /> <br />labor in connection with the installation of such improvements. The form of the improvement security shall <br /> <br />be subject to the approval of the City Attorney. Improvement security shall be reduced or released by City <br /> <br />only in the manner provided by the Subdivision Regulations of City. No change, alteration or addition to <br /> <br />the terms of this Agreement or the plans and specifications accompanying the same shall in any manner <br /> <br />affect the obligation of those providing improvement security pursuant to this Agreement. <br /> <br />14. Maintenance Security. Prior to initial acceptance of any of the work constructed hereunder or <br /> <br />the release of any of the securities required under Paragraph 13., hereof, Subdivider shall furnish the City a <br /> <br />maintenance and repair security in a form acceptable to the City Engineer in the amount of NINETY TWO <br /> <br />TRACT MAP 7579 <br />SUI30TVISION IMPROVEMENT AGREEMENT <br />G:\_LO'--Tract Map & Parcel Map\TM7579-WASHINGTON & spTinglake\SUBIMP,AGR.doc PAGE 5 OF 16 <br /> <br />ff <br />
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