AgdaPkt 2012-06-25 - Laserfiche WebLink

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6.1.J. - Page 7 addi�ionai sum to be paid and agrees that t�e annount payable shall be increased 6�ten pet•cent (10%) �n the event pa�+ment is not �ade withir� such fifteen (15) day period. Any part of the Deposit or such additional surri ar sums not utilized by Ci�y shall be retur�ted promptly to Developer. 11. Completion of Work, After Developer (a) completes tl�e VVork in accordance with the �npravement Plans and the terms and conditions of this Agreement, (b} repairs any private or public property datnaged as a rasult af the Work or pays the full cost of such repair ta the owner whose property was damaged and {c) ohtains the r`n•itten acc�ptanee o�such repair or payment from any owner whase private property was repaired by Devetoper or to whom Developer paid the full cost of such repair, Developer will p�•ovide City with a written notice of completian, together with copies of all written acceptances. 12. �inal Acceptance. 72.1 Notice of Completion. Within thirty (30} days of receipt of Developer's written �otification pursuant to Section 11 above, the City Engineer sha11 inspect the Work arnd repairs and review t1�e written acceptances, if any, and send Developer a written. notice stating whethe�• the Work and repairs are complete to the satiisfaction of the City E�gineer, in his reasonable discretion, and whether the written acceptances have been provided. If tl�e Work and repairs are, in the opinion of the City Engineer, not complete and satisfactory, andlor writter� acceptances have nat been provided, the City Engin�er wi1l list the deficiencies that must be corracted to £'ind the Work and repairs completa and satisfactory, Upon satisfactory completion of the Work and repairs and submittal of written acceptances, tha City Engineer will send Developer a written notice of satisfac�ory completion. The requirement for writ�en acceptances�nay be waived by t[�e City Engineer, in his reasonabie discretian, i�' Devaloper has made commercially reasonable efforts to obtain such acceptancas. The City Engineer's failure to respond to Developer's written notifica�ion�ovithin thirrty{30)days wili not be deerned a breach or default under this Agreement. 12.2 Acceptance of Itnproveznents. After sending Developar a written natice of satisfactory completion pursuant to Section 12.1, the City Engineer will recomrriend acceptance of �he Im;provements to the City Council. The aeceptance of the 7tnpravements, offars of dedicatian and right of wa�,and ease�ents(except as expressly provided in Section 16 below}, if any, shail be by resolution of the City Council, with the znatter placed on the next available agenda for City Council actian. Upon City Cauncil's adoption of such resolution, the City Engineer shall promptly record a notice whioh provides for acceptance of the improvements, in a form to be approved by the Cify Attorney, in the Official Reco�•ds of San Mateo County. 13. Performance Labar and Materiais and Warran Securi . 13.7. In aceordance with Chapter 30 af tl�e Redwood City Code, Daveloper will furr�ish and delivar to City,�uvithin the times set forth below,the following security, each of which m�st ba issued by a surety company duly and reguiarly authorized to do general surety business in the State of California,or such other surety as may be acceptable to t�e City Engineer. (a} Pe��'ormanc8 Securitv. Developer shall fiarnish and delive�•perfarmance security in the amou�t of Six Hundred Eighty Nine Thousand Three Hundred Sixty Dallars($b$9,3b0.00},cone�rrently with the execution of this Agresmenti,whie�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 shall be conditioned upon the faithful parformance af this Agreement with respect to the Work and shall b�raleased by City in aceordance wit� Section 14 below upon finat acceptance ATCYIAGR12012.06512580�CR(URBAfV HOUSfNG)SUBDIVISEON EMPROV�M�.NTAGREEMENT REV:06-05-'{2 VR Page�4 of 16