Dedicated Improvements Agreement - Menards Inc - Intersection Improvements at Callander and St Joseph Street

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1. Construction Inspection The Owner has provided the City with Exhibits A and B, which depict drawings of the reconstructed Intersection and the Dedicated Improvements, which the City acknowledges conforms to the City's standards. The Owner shall allow the City to inspect the Intersection and Dedicated Improvements during construction to ensure conformance to the agreed standards set forth in Exhibits A and B, in particular with regard to area planning, adequacy of design, and quality of construction. The Owner shall contact the City to arrange for the attendance of a City inspector at key milestones throughout work within the R.O.W. Key milestones shall include but not limited to: Storm Sewer installation, No. 53 stone placement, Hot Mixed Asphalt placement, and concrete curb or sidewalk placement. The Owner agrees to perform any necessary adjustments as reasonably required by the City as a result of such inspections. 2. Permits It shall be Owner's sole responsibility and expense to obtain all permits associated with the construction and installation of the reconstructed Intersection and the Dedicated Improvements in the R.O.W. 3. Performance Bond Owner agrees to provide the City with a performance bond for an amount equal to one hundred twenty—five percent (125%) of the construction cost covering all work performed pursuant to this Agreement. 4. Maintenance Bond Owner agrees to provide the City with a maintenance bond equal to ten percent (10%) of the construction cost covering all work performed pursuant to this Agreement, and such bond shall remain in effect for three (3) years after dedication as described in Section 6 below.