MORRISON HOMES (2) - Laserfiche WebLink

2. Work. Developer will do or cause to be done and performed, the following described work: Im~~rovements pursuant to Plans entitled: 1. Valley Avenue Grading and Soundwall Plan, Pleasanton, California, prepared by MacKay & Somps dated May, 1984; and 2. Valley Avenue, Pleasanton, California, Morrison Homes, preparec by Z'he Environmental Center dated May 5, 1984; all as more particularly shown on the plans attached as Exhibit "A". 3. Inspection. City shall inspect all of said work through an inspector employed by City at the cost and expense of City as per the Long-Term Agreement cited above. 4. Plans. All of said work shall be done and materials furnished in strict accordance with the approved plans for said improvements, as shown on the attached Exhibit "A", 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. 5. Related Contracts and Proceedings. Any prior contracts between City and Developer and any prior approvals by Boards, Commissions or Council of City shall not be affected by the provisions of this agreement unless specific modification is set forth herein. 6. Security. On signing this agreement, the Developer shall present to th~-- e C ty 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 1008 of the total estimated cost of the work for each stage of development, conditioned upon faithful performance of this agreement, and 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. Cash or instruments of credit shall be in an amount not less than 100% of the tota_t estimated cost of improvements which is as follows: $470,000.00. In event of breach by Developer, City may take over the work and prosecute the same to completion by any method the City deems advisable. Said work shall be for the account and at the expense of .the Developer. Developer shall be liable to the City for any•excess costs or damages suffered by the City.