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Within ten (10) days of City’s acceptance of the Dedicated Improvements, Owner shall <br />provide the City with a maintenance bond equal to ten percent (10%) of the construction cost <br />covering all work performed or to be performed pursuant to this Agreement, and such bond shall <br />remain in effect for three (3) years after dedication as described in Section 10 below. <br />8. Term <br />Except as otherwise provided herein, this Agreement shall continue for a period of sixteen <br />(16) months from the Effective Date of this Agreement, or upon the issuance of the relevant <br />occupancy permit(s), whichever occurs last. <br />9. Dedication <br />Upon completion of the construction of the Dedicated Improvements substantially as <br />depicted in Exhibit A, the Owner shall also convey an easement and dedicate to the City within <br />such easement the Dedicated Improvements as public infrastructure. It is understood by the Owner <br />that no dedication shall be accepted by the City until all required easements have been conveyed, <br />accepted, and recorded by the City. It is also understood by Owner and the City that water main <br />and sanitary sewer constructed in previous phases shall be dedicated to the City. The Owner shall <br />use its best efforts to work with the City to ensure that the Dedicated Improvements are dedicated <br />to the City in a timely manner. <br />Additionally, prior to dedication, the following must be satisfied: <br />a. All parts and labor must meet the standards and requirements stated in the design <br />specifications as presented to and accepted by the City's Engineering Department. <br />b. Lien waivers must be received regarding all workmanship and materials used in connection <br />with these improvements.