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ATTY/AGR/2025-AMEND. NO. 2 - 1548 MAPLE SUBDIVISION IMPROVEMENT AGREEMENT <br />REV: 11-24-25 VR <br />Page 4 of 6 <br />ARTICLE I <br />SATISFACTION OF BLOMQUIST EXTENSION CONTINGENCIES <br />1.1. Acknowledgments and Agreements. The Parties acknowledge and agree <br />as follows: <br />(a) City obtained the County Authorization and satisfactorily completed the <br />Abatement Work prior to the County Segment Outside Date; <br />(b) Developer has completed the Demolition Work (as defined in the Tri-Party <br />Agreement); <br />(c) As of the Second Amendment Effective Date, Developer has obtained all <br />Non-County Authorizations (as defined in Section 3.3.C. of the Development <br />Agreement as amended by the Second Amendment to the Development <br />Agreement) and agrees that it shall use best efforts to prevent the expiration of <br />any Non-County Authorization prior to completion of the Blomquist Extension <br />Work; <br />ARTICLE II <br />AMENDMENT OF REQUIRED COMPLETION DATE <br />2.1. Amendment of SIA Section 4. Section 4. of the SIA is hereby amended <br />and restated in its entirety as follows: <br />“4. Completion Date. Developer shall complete the Non-Blomquist Work on or <br />before September 3, 2029. Developer shall complete the Blomquist Work, <br />including the Offsite Water Line, on or before the date of the issuance of the <br />certificate of occupancy for the first residential unit (other than temporary <br />certificates of occupancy for one townhome building to include up to four model <br />residential units) or such later date as mutually agreed to by the Parties in writing. <br />All Work shall be completed in a good and workmanlike manner in accordance <br />with accepted design and construction practices and consistent with the <br />Improvement Plans. The above completion date may be extended by the City <br />Engineer in his or her sole and absolute discretion at the request of Developer, <br />which request will be accompanied by a written assurance acceptable to the City <br />Engineer that the securities required by Section 13 will remain enforceable <br />throughout the term of the extension.” <br />ARTICLE III <br />SUBSTITUTION / CONFIRMATION OF IMPROVEMENT SECURITY <br />3.1. As contemplated by Section 13.3.A of the SIA, concurrently with the <br />execution of this Second Amendment, Developer shall provide City updated performance <br />and labor and materials surety bonds in the dollar amount and substantially in the forms <br />of draft surety bonds attached hereto as Exhibit B. <br />9.C. - Page 30 of 56 <br />574