Reso 2021-124 Final Map DR Horton Bay

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reflect increases in the cost of constructing the required improvements that have occurred prior to the granting of the extension, and the cost of additional inspection services. 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 the Required Improvements shall not be final until a written notice of acceptance of all the improvements shall have been delivered to Subdivider in accordance with the requirements of San Leandro Municipal Code Chapter 7-1. 13. Improvement Security. Concurrently with the execution of this Agreement, Subdivider shall furnish City: (a) Two improvement securities, each in the sum of ONE MILLION NINE HUNDRED THOUSAND NINE HUNDRED THIRTY DOLLARS ($1900,930), which sum is equal to one hundred percent (100%) of the estimated cost of constructing the Required Improvements. One improvement security shall secure faithful performance of this Agreement as required by Government Code Section 66499.3(a). The second improvement security shall secure, as required by Government Code Section 66499.3(b), payment to the contractor, his subcontractor and to persons furnishing labor, materials or equipment to them for the construction of the required improvements, and for the payment of amounts due under the Unemployment Insurance Act with respect to work or labor performed in connection with the installation of the Required Improvements. The form of the improvement security shall be subject to the approval of the City Attorney. Improvement security shall be reduced or released by City only in the manner provided by the San Leandro Municipal Code Chapter 7-1. No change, alteration or addition to the terms of this Agreement or the plans and specifications accompanying the same shall in any manner affect the obligation of those providing improvement security pursuant to this Agreement. Any bond(s) shall be executed by a surety company authorized to transact a surety business in the State of California. TRACT MAP 8519 SUBDIVISION IMPROVEMENT AGREEMENT G:\- PROJECTS -\San Leandro - MapleLane (Manor Bowl)\City\Planning\Subdivision Improvement Agreement 903 Manor (CAO Edit 7.22.21)_ac AJ edit 8.11.2Ldocx PAGE 5 OF 20