Water and Sanitary Service Agreement - Utility Extension and Title Sheet for Audubon Woods Section 2

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permit fees, backfill and bedding, pavement, and any other work required for looping the water main. 5. Performance Bond Owner agrees to provide the City with a performance bond for an amount equal to $242,5 80 in connection with Owner's construction of the Improvements (the "Performance Bond"), being equal to 125% of the City -approved constructions costs of the Improvements as listed on Exhibit E attached hereto. Upon the approval of the City of South Bend, Indiana Board of Public Works Project Completion Affidavit ("Project Completion Affidavit"), the obligation to maintain the Performance Bond shall cease without any further action or confirmation required from City. The Owner understands the St. Joseph County Sewer and Water Regional District is responsible for operating, owning, and maintaining the sewer in Audubon Woods Subdivision and understands there is no City requirement for a performance bond for the proposed sewer construction in Section 1 of Audubon Woods Subdivision. 6. Maintenance Bond Within ten (10) days of City's acceptance of the water main system, Owner shall provide the City with a maintenance bond equal to ten percent (10%) of the Engineer's Estimate covering all work performed or to be performed pursuant to this Agreement, and such bond shall remain in effect for three (3) years after dedication as described in Section 9 of this Agreement. The Owner understands the St. Joseph County Sewer and Water Regional District is responsible for operating, owning, and maintaining the sewer in Audubon Woods Subdivision.