CALLAHAN-PENTZ SUBDIVISION AGREEMENT

~ ~ 4. Soils Report. Subdivider shall provide a preliminary soil report as required by Section .66490 of the Government Code. Said data shall be compiled by a qualified soils testing engineer without expense to the City. 5. Plans. All of said work shall be done and materials furnished in strict accordance with the approved plans .for said tract filed with the City Engineer, and in accordance with the. standard specifications and details of the City of Pleasanton. 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. 6. Related Contracts and Proceedings. Any. prior contracts between City and Subdivider and any prior approvals by Boards, Commissions or Council of City .shall .not be affected by the provisions of this agreement unless specific modification is set forth herein. 7. Upon execution of this agreement and presentation and submission of required security, the previous agreement between the Developer and the City entitled "Street Improvement Agreement, Stoneridge Drive and. West Las Positas Boulevard, Pleasanton, Alameda County, California (CPS Portion)" shall become null and void and all bonds associated with the aforementioned agreement will be released at that time. 8. Security. On signing this agreement, the Subdivider shall present to the .City and file with the City Clerk, improvement security as .defined in Section 66499 of the Government Code of the State of California. Said improvement security as approved by the City Attorney, shall. consist of the following as determined by the City: a. .cash deposit made with the City, or b. bonds by duly authorized corporate sureties, or c. instruments of credit from financial institutions subject to regulation by state or federal government, or d. bonds of a duly authorized surety company covering all or a portion of said improvements required herein where a contract for improvements has been let through an assessment district proceeding, and where said bond have been .filed with the City Clerk prior to the execution of this agreement, as a part of the existing: improvement district.proceedings. One bond shall be in the amount of 1000. of the total estimated cost of the work for each stage of development, conditioned upon faithful performance of this agreement, and one bond in the amount of 100% of the total estimated cost of the work for each stage of development shall secure. payment for labor and materials. - -3-