Laserfiche WebLink
<br />It shall be Owner’s sole responsibility and expense to obtain any and all permits associated <br />with the construction and installation of the Dedicated Improvements and to comply with all <br />applicable laws. <br />5. Engineer’s Estimate <br /> <br />The Owner has provided an Engineer’s Estimate (See Exhibit B, incorporated herein by <br />reference and attachment) for the cost to construct the Dedicated Improvements, including but not <br />limited to, excavation, pipe materials, valves, hydrants, and all other appurtenant materials, supplies <br />and equipment, permit fees, backfill and bedding, pavement, curbs, sidewalks, signs, and restoration <br />of the areas within the proposed R.O.W. <br />6. Performance Bond <br /> <br />Owner shall provide the City with a performance bond for an amount equal to one hundred <br />twenty-five percent (125%) of the construction cost covering all work performed or to be <br />performed pursuant to this Agreement. Owner’s failure to provide the performance bond as <br />prescribed herein shall cause this Agreement to be immediately terminated and of no effect, <br />without the requirement of notice. The performance bond shall be provided concurrently with the <br />execution of this Agreement. <br />7. Maintenance Bond <br />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 9 below. <br />8. Term <br /> <br />Except as otherwise provided herein, this Agreement shall continue for a period of sixteen