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2. Reimbursement Costs. As reimbursement, Developer <br />is entitled to recover the costs of such construction work <br />from the City of Pleasanton. Said reimbursement shall be <br />based upon estimates of construction costs plus overhead of <br />fifteen percent (15~). The construction work to be <br />performed by Developer and included in the improvements <br />eligible for reimbursement hereunder (collectively <br />hereinafter referred to as "Improvements") shall include the <br />work described in Exhibit "A" attached hereto and <br />incorporated herein by this reference, which shall be <br />performed as per estimated cost as stated in Exhibit "A". <br />Developer shall submit an invoice for the construction work <br />to City. City shall make an inspection of the Improvements <br />by April 28, 1989 and notify Developer what items, if any, <br />remain to be completed. City shall make payment to the <br />Developer within thirty (30) days after the City Engineer <br />determines that the Improvements have been substantially <br />completed. The City shall pay the Developer the sum of One <br />Hundred Twenty-five Thousand Five Hundred Eighty Dollars <br />($125,580.00) as reimbursement for the Improvements. <br />Developer may request a progress payment in proportion to the <br />work completed. <br />3. Ownerships. Ownership of Improvements shall vest <br />with the City when City Council accepts the Improvements. <br />4. Term. Developer shall complete the Improvements by <br />July 30, 1989. <br />5. Insurance. Developer agrees to fulfill the <br />following: <br />a. Provide a certificate of insurance issued to <br />the City of Pleasanton from its insurance carrier <br />providing proof of Workers Compensation and policy <br />number. <br />b. Provide a Certificate of Insurance from his <br />insurance carrier showing the amount of public Liability <br />and Property Damage coverage and naming the City of <br />Pleasanton, its Council, employees, officers, boards and <br />Agents as additional insureds. Insurance coverage shall <br />be in at least the following amounts: <br />PUBLIC LIABILITY <br />General Bodily Injury $3,000,000 Per Occurrence <br />General Property Damage $1,000,000 Per Occurrence <br />or <br />Combined Single Limit on Bodily Injury and Property <br />Damage Liability - $3,000,000 <br />-2- <br />