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<br />SUBDIVISION IMPROVEMENT AGREEMENT <br />TRACT 8724 <br />Page 3 of 11 <br /> <br />to the City. Said information contained in letters and reports within Design Level Geotechnical <br />Investigation Report, APN #946-4619-001, Vineyard Avenue Pleasanton, California, by Aftershock <br />Geotechnical dated April 16, 2025. <br /> <br />5. Plans. All of said Improvements shall be done and materials furnished in strict accordance with <br />the approved plans for said tract filed with the City Engineer, and in accordance with the standard <br />specifications and details of the City of Pleasanton. It is further understood that the Improvements and <br />materials shall be under the supervision of the City Engineer, and performed and installed to the City <br />Engineer’s satisfaction. <br /> <br />6. Related Contracts and Proceedings. Any prior contracts between City and Subdivider or <br />between City and Contractor and any prior approvals by Boards, Commissions or Council of City shall <br />not be affected by the provisions of this Agreement unless specific modification is set forth herein. <br /> <br />7. Bonds Required. The total estimated cost of the Improvements is: $4,214,000 (see Exhibit A for <br />details) <br />Concurrently with the execution of this Agreement, on behalf of Subdivider Contractor shall <br />furnish the CITY with the following security in a form satisfactory to the City Attorney: <br /> <br />a. Faithful Performance. Either a cash deposit, a corporate surety bond issued by a company <br />duly and legally licensed to conduct a general surety business in the State of California, or an <br />instrument of credit equivalent to one hundred percent (100%) of the estimate set forth in this <br />Section 7 and sufficient to assure CITY that the Improvements will be satisfactorily <br />completed (the “Faithful Performance Bond”). The City shall release the Faithful <br />Performance Bond no later than forty-five (45) days after the recordation of the Notice of <br />Completion (California Civil Code §8182) for the Improvements or ninety (90) days if no <br />Notice of Completion is recorded. <br /> <br />b. Labor and Materials. Either a cash deposit, a corporate surety bond issued by a company duly <br />and legally licensed to conduct a general surety business in the State of California, or an <br />instrument of credit equivalent to one hundred percent (100%) of the estimate set forth in this <br />Section 7 and sufficient to assure City that Subdivider’s contractors, subcontractors, and <br />other persons furnishing labor, materials or equipment shall be paid therefor (the “Labor and <br />Materials Bond”). The City shall release the Labor and Materials Bond no later than forty- <br />five (45) days after the recordation of the Notice of Completion for the Improvements or <br />ninety (90) days if no Notice of Completion is recorded. <br /> <br />c. Warranty. Prior to acceptance of the Improvements as complete by the City Engineer, <br />Subdivider shall furnish to City with either a cash deposit, a corporate surety bond issued by <br />a company duly and legally licensed to conduct a general surety business in the State of <br />California, or an instrument of credit equivalent to ten percent (10%) of the estimate set forth <br />in this Section 7 and sufficient to assure CITY that the Improvements will be satisfactorily <br />completed from the date on which the City Engineer accepts the work as complete until one <br />year thereafter (collectively, the “Warranty Bond”). Subdivider shall be liable for defects in <br />workmanship and materials (if any) on all of the Improvements and shall maintain the <br />Warranty Bond required in this subsection. <br /> <br />Page 206 of 846