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Improvements and Street Modifications and payment by the City in accordance with this <br /> Agreement, Developer shall assign to the City all of Developer's rights in any <br /> warranties, guarantees, maintenance obligations or other evidence of contingent <br /> obligations of third persons with respect to the Streetscape Improvements and Street <br /> Modifications. Developer shall provide these warranties, guarantees and maintenance <br /> obligations for the Streetscape Improvements and Street Modifications for at least one <br /> year following acceptance by City. In addition, Developer shall provide City and Agency <br /> with a complete set of "record" drawings" certified by the Contractor showing the <br /> location of the Work as installed. <br /> 2. FINANCIAL TERMS. <br /> A. Streetscape Construction Costs. Developer shall pay the sum of One <br /> Million, Three Hundred Thousand Dollars ($1.3 million) of the Cost of the Work for the <br /> Streetscape Improvements, plus the Cost of the Work for any changes to the <br /> Streetscape Improvements Developer may request. City and Agency shall reimburse <br /> Developer for the actual Cost of the Work for the Streetscape Improvements incurred by <br /> Developer over and above One Million Three Hundred Thousand Dollars ($1.3 million), <br /> as that amount may be adjusted for change orders Developer may request, provided, <br /> however, that the City and Agency shall not reimburse Developer in an amount greater <br /> than the difference between the amount contributed by the Developer and the final <br /> agreed Not-to-Exceed Streetscape Cost (defined below) without the prior written <br /> approval of City's Project Manager, the City Council and the Agency's Board of <br /> Directors. The current construction estimate for Streetscape Improvements and Street <br /> Modifications is Five Million One Hundred and Fifty Thousand Dollars ($5,150,000.00). <br /> The Not-to-Exceed Streetscape Cost will be the final amount agreed to in writing <br /> between the City and Developer after this estimate has been adjusted for value <br /> engineering and other savings and finalized but before construction of the Streetscape <br /> and Street Modifications begins. <br /> B. In calculating the Not-to-Exceed Streetscape Cost, the parties assume <br /> that Developer, Consultants and Contractors will, from time to time, encounter delays <br /> and difficult site conditions arising from limited access to work areas, other interference <br /> 6 <br /> 840847v8 33786/0001 <br />