Agreement - Public Improvements for 201 S. Main St. (Barnes and Thornburg Building) - Bald Mountain, LLC.

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2. Construction Inspection. The City shall inspect the Public Improvements during construction to ensure conformance to City ordinances and standards pertaining to area planning, adequacy of design, and quality of construction. The City's contractor for the Public Improvements (the "City's Contractor") shall work with a City inspector at key milestones throughout work within the R.O.W. Key milestones shall include but not be limited to: hot mix asphalt placement, placement of any drainage apparatus, concrete placement, light installation, and tree installation. The Owner agrees to cooperate with the City and the City's Contractor with regard to any necessary and reasonable adjustments to the Public Improvements required by the City, in the sole discretion of the City Engineer or her designee, as a result of such inspections. 3. Permits. It shall be Owner's responsibility and expense to obtain or cooperate with the City's Contractor to obtain all permits associated with the construction and installation of the Public Improvements in the R.O.W. and to comply with all applicable laws. Owner's failure to comply with this Section 3 shall be a material breach of this Agreement. 4. Payment In Lieu of Performance Bond. Because the City, via the Commission, will be performing the work related to the Public Improvements using funds allocated to the Owner under the Development Agreement, the City has agreed to waive the requirement of a performance bond. In lieu of a performance bond, the Owner agrees to pay to the Commission an amount equal to the difference between the cost estimate set forth in Exhibit B and the amount available for the Owner's use under the Development Agreement. The Owner and the Commission will concurrently enter into an amendment to the Development Agreement, wherein the remaining funds plus the payment made to