RecDoc 2022-044650 Subdivision Improvement

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The construction, installation and completion of the Improvements and all labor and materials furnished in connection therewith are hereinafter referred to collectively as the "Work." The Work and Improvements will be in strict compliance with the provisions of Chapter 30 of the Redwood City Code. In the event a conflict exists between the Improvement Plans and the requirements of Chapter 30 of the Redwood City Code, the stricter requirement or standard will govern, as determined by the City Engineer. Certain of the Improvement Plans are still being refined and revised, including, but not limited to the Dog Park Plans and the Community Garden Plans. As the Improvements Plans are refined, the City or the Developer may propose refinements or revisions prior to commencement of construction of any component of the Improvements. Any refinements or revisions shall be subject to approval of the City Engineer or their designee in their discretion. If the City approves changes to any of the Improvement Plans, the approved amended Improvement Plans shall replace the Improvement Plans referred to in Recital E. Any alteration made to the Improvement Plan or to any provision of this Agreement shall not operate to release any surety or sureties from liability on any bond or bonds given pursuant to this Agreement and consent to make such alterations is hereby given, and the sureties to such bonds waive the provisions of Section 2819 of the California Civil Code. Refinements or revisions to the Improvement Plans shall not require this Agreement to be re -approved by the City Council. 3.2 Alternate Improvements. In the event neither the Developer nor the City is able to acquire the property for the Community Garden Improvements at least six months prior to the final certificate of occupancy for the first commercial building, the Developer shall pay the City the alternate payment required by Condition of Approval 7(e) adopted by the City Council of the City of Redwood City on November 16, 2020 pursuant to Resolution No. 15908 and revise the Improvement Plans as necessary to account for the Community Gardens property not being controlled by the Developer or City, as indicated in the Alternative Lathrop Triangle Plan. Upon payment of such amount, the Developer shall have no further obligation to complete the improvements set out in the Community Garden Improvement Plans and, the security required by Section 13 of this Agreement shall be released in the amount of the Garden Improvements, as applicable, and as an authorized partial release pursuant to Section 14. 4. Completion Date. Developer will complete the Work within three 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 their sole and absolute discretion at the request of Developer, which request will be accompanied by a written assurance acceptable to the City Engineer that the securities required by Section 13 will remain enforceable throughout the term of the extension. 5. Estimated Cost of Work. The engineer's estimated cost of the Work is Thirty-seven Million, One Hundred Seventy-six Thousand, Eight Hundred Fifty-six Dollars ($37,176,856) ("Estimated Cost of Work"). REV: 04-07-2022 SK ATTY/AGR.2022.083/South Main SIA (Page 4 of 26)