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<br />between the Developer and <br />in the City's reasonable <br />City shall reimburse the <br />change orders. <br /> <br />the Developer's general contractor. If <br />judgment the change order is justified, <br />Developer for costs associated with such <br />3 . MPfihorl of Rei mhur~Pment . <br />A. On the dates so indicated on Exhibit A, Developer <br />may submit for review a request for reimbursement, listing <br />the amount and value of the Improvements actually <br />constructed during the preceding month, or part thereof. <br />Upon the City Engineer's review and approval, including <br />adjustments if any, City shall make a reimbursement payment <br />to the Developer. <br />B. Ten percent (10%) of the reimbursement due shall <br />be retained by the City as a retention. The City shall <br />retain ten percent (l00) of the reimbursement for thirty <br />(30) days after the Notice of Completion for the <br />Improvements is recorded. <br />C. Reimbursement requests submitted on the dates so <br />indicated on Exhibit A will be paid on the dates so <br />indicated on Exhibit A. <br />4. (~wnPrsh;n of the Tmprovement~. City shall own the <br />Improvements after the City accepts the Improvements, and shall <br />be responsible for any maintenance of the Improvements. <br />5, Tns=Pr.t;on. City shall inspect all of the Improvements <br />through an inspector employed by City at the cost and expense of <br />the City. <br />6. SPrt~r; T. Developer shall provide, or cause to be <br />provided, to the City improvement security as defined in Section <br />66499 of the Government Code of the State of California. Said <br />improvement security as approved by the City Attorney shall <br />consist of bonds by duly authorized corporate sureties as <br />follows: <br />One bond shall be in the amount of 100% of the total <br />estimated cost of the Improvements, conditioned upon <br />faithful performance of this Agreement, one bond in the <br />amount of 100% of the total estimated cost of the <br />Improvements shall secure payment for labor and materials, <br />and one bond in the amount of ten percent (10%) of the <br />estimated value of the Improvements for providing <br />maintenance for a period of one year following final <br />acceptance by the City of the Improvements. <br />2 <br />