RecDoc 2016-066631 IA 601 Marshall St IA

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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 13 shall remain enforceable throughout the term of the extension. 5. Estimated Cost of Work. The engineer's estimated cost of the Work is Six Hundred Six Thousand Five Hundred SiY and No/100 Dollars($606,506.00)("Estimated Cost of 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. Re�airs. 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 sha11 obtain the written acceptance of such repair or payment from any owner whose 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 cancurrence of the City Engineer. 9. Examination of Work. All of the Work shall be consistent with the Improvement 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 and the Work and shall be allowed to examine the Work and all materials used and to be used in the Work. 10. City Costs; Deposit. Developer shall pay to City the actual cost for all engineering, inspection, administration, plan check, laboratory and field testing, construction, and other services furnished by City in connection with this Agreement, including those performed by consultants under contract with City ("City Costs"). Developer shall deposit with City the sum of Thirty Thousand Three Hundred and No/100 Dollars ($30,300.00) ("DeposiY'}to compensate City for all City Costs. Developer understands that the Deposit is an estimate and further agrees to pay to City the actual cost of providing such services, in accordance with the City's current fees. Developer agrees to complete payment of such additional sum or sums for the services provided by City, if any, within ten(10)days after billing by City of the additional sum to be paid and agrees that the amount payable shall be increased by ten percent (10%) in the event payment is not made within such ten (10)day period. Any part of the Deposit or such additional sum or sums not utilized by City shall be returned promptly to Develaper. REV:06-21-16 VR Page 3 of 19 ATTY/AGR.2016.126/601 Marshall Street Owner, LLC - IA 2016-06-09