STAPLES NEIGHBORHOOD PARK FUNDING-IMPROVEMENT

Basin Improvements Final Plans (defined in the following paragraph), along with preliminary estimated costs of construction of the Detention Basin Improvements. The "Detention Basin Improvements Final Plans" are construction plans and specifications for the construction of the Detention Basin Improvements consistent with the Detention Basin Specifications including, without limitation, a landscape plan that utilizes plant materials suitable for storm water detention purposes. The Detention Basin Improvements Final Plans shall be consistent with the overall Neighborhood Park PUD Plan referenced in Section 3.1. (b) Construction of Detention Basin Improvements. (1) Bids; Construction Contract. Prior to approval of the Final Subdivision Map by City, CLC shall request bids from a minimum of three (3) licensed contractors who are qualified to construct the Detention Basin Improvements. Any bids shall include proposed construction schedules. CLC's request for bids shall require bids to be submitted no later than thirty (30) days following the date of the request. Any bids may contain a contingency not to exceed fifteen percent (15 %) of the other construction costs. Subject to the following paragraph, CLC shall select the lowest responsible bid no later than ten (10) days following CLC's receipt of the last submitted bid and immediately thereafter provide the other parties with a copy of the bid selected by CLC, and copies of the bids not selected by CLC. Within five (5) days after receipt of copies of the bids, the parties shall submit to CLC any written comments and/or objections to the bid selected by CLC. CLC and the other parties shall meet as soon as practical after CLC's receipt of the last comments to discuss and attempt to resolve any comments and/or objections. Upon resolution of any comments and/or objections, CLC shall promptly thereafter enter into a construction contract with the selected contractor consistent with the accepted bid and other matters agreed upon by the parties, subject to approval of the Final Subdivision Map. (ii) Construction of Detention Basin Improvements. CLC shall cause the Detention Basin Improvements to be constructed pursuant and subject to the provisions of this Agreement. City shall inspect construction of the Detention Basin Improvements and accept same upon completion of construction of the Detention Basin Improvements. No certificate of occupancy for any development at Staples Ranch shall be issued by City until construction of the Detention Basin Improvements have been completed and accepted by City. (iii) Detention Basin Construction Costs; Parties' Proportionate Shares. (A) Detention Basin Construction Costs; Change Orders. Subject to the following sentence, the phrase "Detention Basin Construction Costs" includes only the following: (1) all costs charged by contractors, subcontractors, and suppliers for construction of the Detention Basin Improvements; (2) fees, assessments and costs associated with securing approvals, permits and licenses for the construction of the Detention Basin Improvements; (3) City inspection (including any specialty inspection) and project management 000299.004411087426.6 4