Reso 1998-036 to 040 - Laserfiche WebLink

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2. Concurrently with the execution of that certain Subdivision Improvement Agreement (Private Improvements) for Tract 6636, Subdivider deposited with the City SIXTEEN THOUSAND DOLLARS ($16,000.00) as a cash security to guarantee the adequate function of the erosion control measures shown on the plans and specifications for the improvement of said subdivision. Said erosion control measures are for the benefit of all phases of the Heron Bay project as approved under General Development Plan PD-91-3 GDP. In the event Subdivider fails, neglects or refuses to maintain and repair said erosion control measures, City is hereby authorized to expend all or any portion of said deposit during construction of any phase of said project, and until the initial acceptance of the final phase of said project. 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 in full until initial acceptance of the final phase of said project. Any unexpended amount will be returned to the Subdivider at the time all bonds and securities are released for the final phase of the Heron Bay project. (b) Insurance. All insurance provisions and coverages to be provided by Subdivider pursuant to Paragraph 16., hereof, shall remain in continuous full force and effect until the final acceptance of the final phase of the Heron Bay project. (c) In the event any portion of the work to be performed pursuant to this Agreement will not be completed prior to October 15 of any calendar year, Subdivider shall provide, on or before September 1 of said year, an Amended Erosion and Sedimentation Control Plan to the City Engineer for review and approval. Said Plan shall include, but s:lulio\tm6965\subm3p2.ag Page 16 of 18