CP IV VINTAGE LLC (2) - Laserfiche WebLink

Oak .M 7. Plans. All of said work shall be done and materials furnished in strict accordance with the approved plans for said Parcel Map filed with the City Engineer, and in accordance with the standard specifications and details of the City of Pleasanton dated January 2011. it is further understood that the work and materials shall be under the supervision of the City Engineer, and performed and installed to his satisfaction. 8. Security. On signing this Agreement, Owner shall present to the City and maintain security in the form of a performance bond in the form specified in the Subdivision Map Act to the Director of Community Development or his or her designee in the amount of one million thirty four thousand dollars ($1,034,000), which is the estimated cost of off- site improvements as per BKF Offske Bond Estimate dated August 10, 2015 for Vintage Mixed Use Development. In the event of any failure of the Owner or its agents to execute the Work in accordance to the approved plans or other federal, state or local regulations, then after the City provides notice to Owner, if Owner fails to cure, 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 as a result of Owner's failure to perform the Work. After the City Council's or Community Development Director's (or his or her designee's), as applicable, acceptance of the Work as complete, a Notice of Completion shall be filed by the City Clerk. Thirty-five (35) days after recordation of the Notice of Completion, if no Stop Payment Notices have been filed against the Work, then the City shall release the Performance and Labor& Materials bonds. One year after acceptance of the Work as complete, if no defects or repairs are needed, the City shall release the Maintenance bond. 9. Related Contracts and Proceedings. Any prior contracts between City and Owner and any prior approvals by City staff, Commissions or Council of City shall not be affected by the provisions of this Agreement unless specific modification is set forth herein. 10.Defects. Owner shall be liable for defects in workmanship and materials on all of the Work and, as security for liability against such defects, Owner shall file improvement or maintenance security with the City Clerk, of a type approved by the City Attorney, in the amount of ten (10) percent of the total estimated cost set forth above for a period of one (1) year after City Council acceptance. 11.Workers' Compensation. Before commencing work under this agreement, Owner shall take out and maintain during the course of this Agreement, such worker's compensation insurance as required by the laws of the State of California. If the Acting Oil Site improvement Agreement—PUD•87,PM 10184,The Vintage Property Page 3 of 7