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b. A traffic signal and related improvements at the intersection of Vervais Avenue and Main Street, as more particularly shown on City approved plans, attached hereto as Exhibit B. 2. Reimbursement. As reimbursement, Developer shall recover the costs of the improvements from the City. Said reimbursement shall be based upon the construction costs as shown on the attached Exhibit C. a. As reflected in Exhibit "C", Developer's most current estimate of the cost to it for for installation of the 2871ineal feet of 8" SDR 35 PVC sanitary sewer pipeline and two 48" standard manholes is the sum of Thirty-two Thousand One Hundred Eighty Nine Dollars and Thirty Cents ($32,189.30). Developer shall submit to City an invoice for the construction work once it is completed. Said cost shall be payable to Developer within thirty (30) days of the date of acceptance of the work by the City. City agrees that it shall process this approval separately of the approval for the items described in paragraph 2. b, below. b. As reflected in Exhibit "C", Developer's most current estimate of the cost to it for the installation of the traffic signals, controllers and related equipment at Vervais Avenue and Main Street is the sum of One Hundred Eighty Five Thousand Eight Hundred Forty One Dollars and Eighty Cents ($185,841.80) Developer shall submit to City an invoice for the construction work once it is completed. Said cost shall be payable within twelve (12) months of the date of acceptance of the work by the City; said sum shall bear interest at the Developer's prime rate plus 1 % from the date of acceptance of the work by City through the date City actually pays said sum to Developer; provided further, if City pays the full sum prior to the expiration of the twelve month period, the interest charge shall be waived. 3. Ownership. Ownership of the improvements shall vest with the City when the City accepts the Improvements. 4. Term. Developer shall complete the improvements by June 30, 2000. 5. Insurance. Developer shall: a. Provide a certificate of insurance providing proof of Workers Compensation. b. Provide a Certificate of Insurance from its insurance carrier showing the amount of General Liability coverage and naming the City of Pleasanton as an additional insured. Insurance coverage shall be in at least the following amounts: GENERAL LIABILITY General Bodily Injury $2,000,000 Per Occurrence General Property Damage $1,000,000 Per Occurrence Or C:\WINDOWS\TEMP\REIMB Traffsig5.doc - 2 -