Agmt 2007 SL 101 LLC (2) - Laserfiche WebLink

Home

12. No Waiver by the City. Final Acceptance. Inspection of the work and/or materials, or approval of work and/or materials inspected, use of the work by the public as public right-of-way, or statement by any officer, agent, or employee of the City indicating the work complies with the requirements of this Agreement, shall not relieve the Subdivider from the obligation to fulfill the Agreement as prescribed herein. Acceptance of any part or stage of said improvements shall not be [mal until a written notice of acceptance of all the improvements shall have been delivered to Subdivider. 13. hnprovement Security. Concurrently with the execution hereof Subdivider shall furnish City: (a) hnprovement security in the sum of THIRTY TWO THOUSAND DOLLARS ($32,000), which sum is equal to one hundred percent (100%), of the estimated cost of constructing the "required improvements" and the cost of any other obligation to be performed by Subdivider hereunder, securing the faithful performance of this Agreement. 14. Maintenance Security. Prior to initial acceptance of any of the work constructed hereunder or . the release of any of the securities required under Paragraph 13., hereof, Subdivider shall furnish the City a maintenance and repair security in a form acceptable to the City Engineer in the amount of THREE THOUSAND TWO HUNDRED DOLLARS ($3,200.00) to guarantee that all areas to be improved are free from defect for a period of one year after initial acceptance of entire work by the City. In the event Subdivider fails, neglects or refuses to maintain and repair said areas, City is hereby authorized to expend all or any portion of said deposit during construction and during the one year maintenance period to accomplish the above. Upon notice by City and should it become necessary for City to utilize said deposit to correct deficiencies, Subdivider shall pay sufficient monies to City to maintain this cash deposit at not less than FOUR HUNDRED DOLLARS ($400.00) until final inspection of all the improvements and [mal acceptance of all public improvements. Any unexpended amount will be returned to the Subdivider at the time all bonds and securities are released. 15. Hold Harmless Agreement. Subdivider hereby agrees to, and shall, hold City, its elective and appointive boards, commissions, officers, agents and employees harmless from and against any or all loss, liability, expense, claim, costs, suits, damages of every kind, nature and description directly or indirectly PARCEL MAP 9401 SUBDNISION IMPROVEMENT AGREEMENT-public G:'--LD\Jract Map & Parcel Map\Parcel Maps\PM 9401 - Callan Ave 101\SUBIMP.AGR-public.doc PAGE 5 OF 16