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<br /> amount thereof prior to the expiration of the one-year guarantee and warranty period nor
<br /> until any claims filed during the one-year warranty period have been settled.
<br /> (b) Security for Payment: Security furnished to secure payment to
<br /> contractors, subcontractors, and to persons providing labor, materials or equipment shall,
<br /> six (6) months after acceptance of all of the Improvements, be reduced to an amount
<br /> equal to the total amount claimed by all claimants for whom liens have been filed and of
<br /> which notice has been given to the City, plus an amount reasonably determined by the
<br /> City Engineer to be required to assure the performance of any other obligations secured
<br /> by the security. The balance of the security shall be released upon settlement or release
<br /> of all claims and obligations for which the security was given.
<br /> (c) If Developer's obligations relating to any Improvements are subject to
<br /> the approval of another governmental agency,the City shall not release the improvement
<br /> security thereof until the obligations are performed to the satisfaction of such other
<br /> governmental agency. Such agency shall have two (2) months after Developer's
<br /> performance of the obligation to register its satisfaction or dissatisfaction. If at the end of
<br /> that period it has not registered its satisfaction or dissatisfaction, it shall be conclusively
<br /> deemed that the Developer's performance of the obligation was done to its satisfaction.
<br /> 15. Warranty Period: Repair and Reconstruction. Without limiting the foregoing, Developer
<br /> expressly warrants and guarantees all Work performed under this Agreement and all materials used in the
<br /> Work for a period of one(1)year after final acceptance in accordance with Section 12. If, within this one
<br /> (1) year period, any Improvement or part of any Improvement installed or constructed, or caused to be
<br /> installed or constructed by Developer, or any of the Wark done under this Agreement, fails to fulfill any
<br /> of the requirements of the Improvement Plans or this Agreement, Developer shall, without delay and
<br /> without cost to City, repair, replace or reconstruct any defective or otherwise unsatisfactory part or parts
<br /> of the Work or Improvement to the satisfaction of the City Engineer. Should Developer fail to act
<br /> promptly or in accordance with this requirement, ar should the exigencies of the situation require repairs,
<br /> replacements or reconstruction to be made before Developer can be notified,City may,at its option,make
<br /> the necessary repairs, replacements or perform the necessary reconstruction and Developer shall pay to
<br /> City upon demand the actual cost of such repairs, replacements or reconstruction.
<br /> 16. Developer Not A�ent of Citv. Neither Developer nor Developer's contractors,
<br /> subcontractors, agents, officers, or employees are agents or employees of City and the Developer's
<br /> relationship to City, if any,arising herefrom is strictly that of an independent contractor.
<br /> 17. Indemnification.
<br /> 17.1 Neither the City, nor its officers, agents nar employees, shall be liable ar
<br /> responsible for any accident, injury, loss, or damage to either property or person attributable to ar
<br /> arising out of the construction or installation of the Improvements. Developer shall indemnify,
<br /> hold harmless and defend the City, its officers, agents and employees, from and against any and
<br /> all losses, claims, costs, expenses, liabilities, damages, actions, causes of action and judgments,
<br /> including reasonable attorneys' fees, arising out of or attributable to Developer's performance
<br /> under this Agreement. Notwithstanding the forgoing, Developer shall not be obligated under this
<br /> Agreement to defend and/or indemnify the City to the extent that any of the damage or injury is
<br /> caused by the gross negligence or willful misconduct of the City or its agents or employees.
<br /> ATTY/AGR/2013.005/640 VETERANS IMPROVEMENT AGREEMENT
<br /> REV:01-09-13 VR
<br /> Page 6 of 18
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