RecDoc 2015-093310 REDWOOD CITY JEFFERSON LLC_IA_08172015_103 Wilson

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determined by the City Engineer to complete the aforementioned improvements, both within and outside of the Property. The construction, installation and completion of the Improvements and all labor and materials finnished in connection therewith are hereinafter referred to collectively as the "Work." The construction, installation and completion of the TIF Eligible Improvements only and all labor and materials furnished in connection therewith are hereinafter referred to collectively as the "TIF Work." The Work and Improvements, which include the TIF Eligible Improvements and the TIF Work, shall be in strict compliance with the provisions of Chapter 30 of the Redwood City Code. hi the event a conflict exists between the hnprovement Plans and the requirements of Chapter 30 of the Redwood City Code, the stricter requirement or standard shall govern, as determined by the City Engineer. 4. Completion Date. Developer will complete the Work within two years of the Effective Date. All Work will be completed in a good and workmanlike manner in accordance with accepted design and construction practices and consistent with the Improvement Plans. This completion date may be extended by the City Engineer in his or her sole and absolute discretion at the request of Developer, which request shall be accompanied by a written assurance acceptable to the City Engineer that the securities required by Section 14 shall remain enforceable throughout the term of the extension. 5. Estimated Cost of Work and the TIF Work. The engineer's estimated cost of the Work is One Million Five I-Iundred Thirty-Nine Thousand Seven Hundred Thirteen Dollars ($1 ,539,713.00) ("Estimated Cost of Work"). The engineer's estimated cost of that portion of the Work comprising the TIF Work is Two Hundred Seventy-Five Thousand Nine Hundred Twenty-Six Dollars ($275,926.00) ("Estimated Cost of TIF Work"). 6. Modifications to the Plans. Approval of this Agreement by City does not release Developer of its responsibility to correct mistakes, errors or omissions in the Improvement Plans. If, at any time, in the opinion of the City Engineer, in his reasonable discretion, the Improvement Plans are deemed inadequate in any respect, Developer agrees to make such modifications, changes or revisions as necessary in order to complete the Work in a good and workmanlike manner in accordance with accepted design and construction standards and consistent with the Conditions and Improvement Plans. 7. Repairs. Developer agrees to repair or have repaired in a timely manner at its sole cost and expense all public roads, streets, or other public or private property damaged as a result of or incidental to the Work or in connection with the development of the Property, or to pay to the property owner of any damaged road, street or property the full cost of such repair. In addition, Developer shall obtain the written acceptance of such repair or payment from any owner who's private or public property was repaired by Developer or to whom Developer has paid the full cost of such repair in accordance with this Section 7. City shall be under no obligation whatsoever to accept the Work completed under this Agreement until such time as all repairs have been completed or have been paid for and written acceptances have been provided to the City Engineer. 8. Foreman or Superintendent. Developer shall give personal attention to the Work. A competent foreman or superintendent, satisfactory to the City Engineer in his reasonable discretion with authority to act for and on behalf of Developer, shall be named in writing by Developer prior to commencement of the Work, shall be present on the Property during the performance of the Work and may not be changed without advance notification to and the concurrence of the City Engineer. 9. Examination of Work. All of the Work shall be consistent with the hnprovement Plans and performed to the satisfaction of the City Engineer, in his reasonable discretion. City and its authorized agents shall, at all times during the performance of the Work, have free access to the Property ATTY/AGR/2015.107/GREYSTAR - 103 WILSON - IA WITH TIF CREDIT Page 3 of 27 REV: 05-28-15 VR