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Developer paid the full cost of such repair, Developer will provide City with a written notice of <br /> completion, together with copies of all written acceptances. <br /> 12. Final Acceptance. <br /> 12. 1 Notice of Completion. Within thirty (30) days of receipt of Developer's <br /> written notification pursuant to Section 11 above, the City Engineer shall inspect the Work and <br /> repairs and review the written acceptances, if any, and send Developer a written notice stating <br /> whether the Work and repairs are complete to the satisfaction of the City Engineer, in his <br /> reasonable discretion, and whether the written acceptances have been provided. If the Work and <br /> repairs are, in the opinion of the City Engineer, not complete and satisfactory, and/or written <br /> acceptances have not been provided, the City Engineer will list the deficiencies that must be <br /> corrected to find the Work and repairs complete and satisfactory. Upon satisfactory completion <br /> of the Work and repairs and submittal of written acceptances, the City Engineer will send <br /> Developer a written notice of satisfactory completion. The requirement for written acceptances <br /> may be waived by the City Engineer, in his reasonable discretion, if Developer has made <br /> commercially reasonable efforts to obtain such acceptances. The City Engineer's failure to <br /> respond to Developer's written notification within thirty (30) days will not be deemed a breach <br /> or default under this Agreement. <br /> 12.2 Acceptance of Improvements. After sending Developer a written notice of <br /> satisfactory completion pursuant to Section 12. 1, the City Engineer will recommend acceptance <br /> of the Improvements to the City Council. The acceptance of the Improvements, offers of <br /> dedication and right-of way, and easements, if any, shall be by resolution of the City Council, <br /> with the matter placed on the next available agenda for City Council action. Upon City Council's <br /> adoption of such resolution, the City Engineer shall promptly record a notice, in a form to be <br /> approved by the City Attorney, in the Official Records of San Mateo County. <br /> 13. Performance, Labor and Materials and Warranty Security. <br /> 13 . 1 In accordance with Chapter 30 of the Redwood City Code, Developer will <br /> furnish and deliver to City, within the times set forth below, the following security, each of <br /> which must be issued by a surety company duly and regularly authorized to do general surety <br /> business in the State of California, or such other surety as may be acceptable to the City <br /> Engineer. <br /> (a) Performance Security. Developer shall furnish and deliver performance <br /> security in the amount of Two Million One Hundred Ninety Thousand Three Hundred Eighty- <br /> Seven and No/100 Dollars ($2,190,387.00), concurrently with the execution of this Agreement, <br /> which security must meet the requirements of Government Code section 66499. 1 and Redwood <br /> City Code Section 30.80 and be acceptable to the City Engineer. The security shall be <br /> conditioned upon the faithful performance of this Agreement with respect to the Work and shall <br /> be released by City in accordance with Section 14 below upon final acceptance of the <br /> Improvements as described in Section 12.2 and Developer's delivery of the Warranty Security <br /> described in Section 13 . 1 (c). <br /> REV: 06-22-1615 <br /> Page 5 of 15 <br /> ATTY/AGR.2016.159/Centrum Owners Association - IA <br />