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building inspectors for walls associated with lot grading for Lots 1 - 7 of Tract 7815. 4. Soils Report. Subdivider shall provide a preliminary soils 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. In the event of conflict between the provisions of this Agreement and the Purchase and Sale Agreement or the Reimbursement Agreement, the Purchase and Sale Agreement shall have first precedence, then the Reimbursement Agreement, then this Agreement. 7. Security. By no later than 12 noon on Friday March 16, 2007, 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 admitted to conduct such business in California, or c. instruments of credit from financial institutions subject to regulation by state or federal government. If bonds are the source of security employed for the improvement security, one bond shall be in the amount of 100% of the total estimated cost of the work for each stage of development, conditioned upon faithful performance of this Agreement, 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, and one bond in the amount often percent (10%) of the estimated value of the public improvements dedicated to and accepted by the City to secure maintenance of the improvements for one (1) year following City Council acceptance. In the event that a letter of credit is employed as the vehicle for security under this Section 7 for labor and materials, upon the reasonable approval of the City Engineer, the Subdivider shall have the right to reduce the amount of the letter of credit during the course of construction in an amount equal to payments made by Subdivider made for SUBDIVISION AGREEMENT TRACT NO. 7815, "THE ESTATES ON OAK RIDGE " Page 3 of 9