DENOVA HOMES TRACT 8147 TOWNSHIP SQUARE 15-1304

a. A cashier's check, letter of credit, or other security satisfactory to the Director of Community Development or his or her designee for Twenty Five Thousand Dollars ($25,000) pursuant to PUD-96 Condition of Approval No. 163 as security for preservation of designated trees on the Property. Such security shall be released one year after completion and the City Council's acceptance of all public improvements or completion of construction, whichever is later, and shall be forfeited if the trees to be saved are destroyed or substantially damaged. If Owner submits a cashier's check as security, Owner waives_all right to any interest that may be earned while such security is held by the City. 3. Inspection. City shall inspect all of said Work through an inspector employed by City at the cost and expense of the Owner, and the Owner shall pay to the City the cost of such inspection as fixed by Ordinance or the City's Master Fee Schedule. 4. Soils Report. Owner shall provide a soils report in a form as reasonably acceptable to the City Engineer, or his or her designee, for the Property. Said report shall be compiled by a qualified soils testing engineer without expense to the City. 5. Storm Water Responsibility. Owner shall be responsible for implementing and maintaining the SWPPP for the Work as provided in the Grading Plan, Pleasanton Municipal Code Chapter 9.14 and State law. 6. Acknowledgement of Proceeding at Own Risk. Owner acknowledges that Owner is undertaking the Work at Owner's own risk because Owner not received subdivision approval from the City. Notwithstanding this, Owner still wishes to proceed with the Work. Owner further acknowledges that this Agreement in no way limits the City's full reasonable discretion in the consideration of the subdivision of the Property. 7. Security. On signing this Agreement, the Owner shall present to the City and maintain security in the form of cashier's check, letter of credit, or other security satisfactory to the Director of Community Development or his or her designee in the amount of Fifteen Thousand dollars ($15,000), which is the estimated cost of the Work, erosion control, hazard elimination and implementation of the SWPPP. If Owner submits a cashier's check as security, Owner waives all right to any interest that may be earned while such security is held by the City. In the event of any breach by the Owner, City may use the security to implement necessary erosion control, hazard elimination, and SWPPP requirements, and prosecute the same to completion by any method that the City deems advisable. Said work shall be for the account and at the expense of the Owner. Owner shall be liable to the City for any excess costs or damages suffered by the City. The City's action will not relieve the owner from their responsibility. Early Grading Agreement(PUD-96),Tract 8147,Township Square Page 2 of 6