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6.1.D. - Page 56
<br /> I�nprovemen�s, the security for performance and gua�•a�tee shall not be reduced o�•
<br /> �•eleased in a�t amount greater than ninety percent (90%) o� the aggregate principal
<br /> amaunt thereof priar to the expiration of the one-year guarantee and warranty period no�•
<br /> until any clairns �led during the one-year waz'�'at�ty period have been settled.
<br /> (b) Security for Payment: Secu►'ity fur�iished to secur� payment to
<br /> con�ractors, subcont��acto��s, a�d to persons providing labor, materials or equiprrtent shall,
<br /> six (6} mo�ths after acceptance of all of the It�provements, he t•educed to an amount
<br /> equal to the total amount claimed by all claimants fo�•whom (iet�s have been fiied and af
<br /> which notice has been gi�en ta tl�e City, plus an atr�ount reasanably deter�nii�ed by the
<br /> City Er�git�eet•to be �•eyuired to assu�•e th� pe�•fo�•mance of any other abligations secuced
<br /> by the security. The balaizce of the security shall be relcased upon settlement or release
<br /> of al� claims and obligations for which the secut•ity was given.
<br /> (c) If Developer's obligations relating to any I�nprovements are subject to
<br /> the approvat af another governmental aget�cy, the City shall not rel�ase the impravement
<br /> secu�•ity thereof until the obligations are pe��fo�•med to the satisfaction af such other
<br /> governmetttal agency, S�ch agency shall have two (2) months afte�• Daveloper's
<br /> pe�•formance of the obligation to register its satisfaction or dissatisfaction. If at the end af
<br /> that period it has not j•egistered its satisfaction a�• dissatisfaction, it shall be conclusively
<br /> deemed tha#the Developer's per�'o�•mance of the obligation was done to its satisfaction.
<br /> 15. Warrantv Pe�•iad; Repair and Reconstruction. Without limiting the foregoing, Develope��
<br /> expressly war�•ants and guai•antees all Work pe�•formed unde�•this Agreemen�t and all�naterials used in the
<br /> Wo3•k for a periad of one(1} yeat•afte�•final acceptance ir�acco�•dance with Sectian 12. If, within this one
<br /> {1} yeat• pariod, any Improvement or pa��t of any Improvement instalied ar canstructed, or caused to be
<br /> installed or construeted by Developer, or any of the Work done under this Agreement, fails to fulfill any
<br /> of the requicements of the Improvemer�t Plans or this Ag�•eement, Developer shall, without delay and
<br /> without cost to City, repai�•, replace o�• �•econst��uct any defective or othe�•wise unsatisfaetoiy pai�t or pa��ts
<br /> of the Work ar Imp�•avement to the satisfaction of the City Engineer. Should Davelaper fail to aet
<br /> promptly o�• in accordance with this requirett�ent, or s1�o�Id the exigencies of the situation req�ire r�pairs,
<br /> �•eplacements or reconstruction to be made before Developer cat�be notified, Ciry may, at its option,make
<br /> the necessat•y t•epau•s, replacements or pei�form the necessacy reconstruction and Developer shall pay to
<br /> City upon demand the actual cost af such repaij•s, i•eplacem�nts or reconstruction.
<br /> I6. Develope�• Not A en� City. Neithe�• Developer nar Develope�•'s cantractors,
<br /> subcontractors, agents, afficers, or employees are agents or employees of City and the Developer's
<br /> �•elationship to City, if any, arising herefram is st�•ictly that of an independent contractoi•.
<br /> 17, lndemnification.
<br /> 17.1 Neit�er the City, nor its officers, agants nor employees, shal� be liable o�•
<br /> responsible for any aecident, inj��y, loss, ar da�nage to either property o�•person attributable t�o�•
<br /> arising out of the constructian or installa�ion of tlie I�npt•ovements. De�elaper shall indemr�ify,
<br /> Izold harmless and defend the City, its officez•s, agents and employees, fi•onn a��d against any and
<br /> all losses, claims, costs, expenses, liabilities, damages, actions, caUSes of actia�� and judgmants,
<br /> including reasonable attorneys' fees, arising out of or athibutable to Developet•'s performance
<br /> under this Agreement. Notwithstanding the fo�•going, Developec shall not be obiigated under this
<br /> Agreement to defend and/or indemnify the City ta the sxtent that any of the damage or injuiy is
<br /> caused by the gross negligence or willful misco�aduct of the City or its agents or employees.
<br /> ATTYIAGW2013.009fSUBDIViSION INiPROVEMENT AGR�EM�NT OiVE NkARINA
<br /> REV:01-14-13 VR
<br /> 1'age 6 of 15
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