SUMMERHILL SYCAMORE MASS GRADING AGREEMENT TRACT 7193

2. Work. Developer will do or cause to be done and performed the following described work: Grading pursuant to the improvement plans for Tract 7193, Sycamore Heights, Pleasanton, California, dated prepared by Ruggeri Jensen Azar & Associates, approved by the City Engineer and the City Council, and any changes approved thereafter by the City Engineer. 3. Inspection. City shall inspect all of the work through an inspector employed by City at the cost and expense of Developer, and Developer shall pay City the cost of such inspection. The City Engineer has tentatively fixed the inspection costs due upon execution of this Agreement as follows: $18,711.40 4. Soils Report. City may require the Developer to provide a preliminary soils report as required by Section 66490 of the Government Code. If so required, the report shall be compiled by a qualified soils testing engineer without expense to the City. 5. Plans. All of the work shall be done and materials furnished in strict accordance with the approved grading plans filed with the City Engineer, and in accordance with the standard specifications and details of the City of Pleasanton. The work and materials shall be under the supervision of the City Engineer, and performed and installed to the City Engineer's satisfaction. 6. Related Contracts and Proceedings. Any other contracts between City and Developer and any prior approvals by Commissions or Council of City shall not be affected by this Agreement unless a specific modification is set forth herein. 7. Security. On signing this Agreement, the Developer 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. One bond shall be in the amount of 100% of the total estimated cost of the work ,conditioned upon faithful performance of this Agreement, one bond in the amount of 100% of the total estimated cost of the work shall secure payment for labor and materials, and one bond in the amount often percent (10%) of the estimated value of the work for the one year maintenance warranty of the work, as set forth in paragraph 8. Except as provided in paragraph 8, instruments of credit shall be in an amount not less than 100% of the total estimated cost of the grading which is as follows: $467,785. SUBDIVISION AGREEMENT -Mass Grading Agreement Tract 7381, Busch/Ponderosa Property Page 2 of 6