RecDoc 2021-108252 1548 Maple Street

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City Engineer, in his or her reasonable discretion, if Developer has made commercially reasonable efforts to obtain such acceptances. The City Engineer's failure to respond to Developer's written notification within thirty (30) days will not be deemed a breach or default under this Agreement. 12.2 Acceptance of Improvements. After sending Developer a written notice of satisfactory completion pursuant to Section 12.1, the City Engineer will recommend acceptance of the Improvements or applicable portion thereof to the City Council. The acceptance of the Improvements or applicable portion thereof, offers of dedication and right -of way, and easements, if any, will be by City Council action, with the matter placed on the next available agenda. Upon City Council action, the City Engineer will promptly record a notice, in a form to be approved by the City Attorney, in the Official Records of San Mateo County. 13. Performance Labor and Materials and Warranty Security. 13.1 Non-Blomquist Work Security. In accordance with Chapter 30 of the Redwood City Code, Developer will furnish and deliver to City, within the times set forth below, the following security for the Non-Blomquist Work, each of which must be issued by a surety company duly and regularly authorized to do general surety business in the State of California, or such other surety as may be acceptable to the City Engineer. REV: 01-21-2021 PR A. Performance Security. Developer shall furnish and deliver performance security in the amount of 100% of the Estimated Cost of Non-Blomquist Work concurrently with the execution of this Agreement, which security must meet the requirements of Government Code section 66499.1 and Redwood City Code Section 30.80 and be acceptable to the City Engineer. The security will be conditioned upon the faithful performance of this Agreement with respect to the Non- Blomquist Work and will be released by City in accordance with Section 14 below upon final acceptance of the Non-Blomquist Improvements and Developer's delivery of the Warranty Security described in Subsection 13.1(c). B. Payment Security. Developer shall furnish and deliver labor and materials security in the amount of 100% of the Estimated Cost of Non-Blomquist Work, concurrently with the execution of this Agreement, which security must meet the requirements of Government Code section 66499.2 and Redwood City Code Section 30.80 and be acceptable to the City Engineer. The security will secure payment to the contractor(s) and subcontractor(s) performing the Non-Blomquist Work and to all persons furnishing labor, materials or equipment to them. City will retain the security until both (i) City accepts the Non- Blomquist Improvements in accordance with Subsection 12.2 above and (ii) the statute of limitations to file an action under Civil ATTY/AGR.2021.010/1548 Maple LLC (Page 9 of 29)