Contracts & Agreements_2-2002 - Laserfiche WebLink

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hereto mutually agree as follows: 1. General Requirements. Developer shall, at its own cost and expense, construct and complete the Improvements to the satisfaction of City within twelve (12) months from the date of Developer's execution of this Agreement, and at an estimated cost of Three Million One Hundred Forty Seven Thousand Dollars ($3,147,000.00), including the cost of plan checking and inspection. 2. Definition and Ownership of Improvements The Improvements include but are not limited to the grading, paving, construction of curbs and gutters, storm drains and sanitary sewers, water lines, utilities, street lights, and all appurtenant facilities associated with the Subdivision that are shown in the plans, profiles and specifications that have been prepared by Developer's engineer and approved by City, and which are attached hereto as Exhibit "A." No work on the Improvements shall be commenced by Developer until such plans, profiles and specifications have been approved by City and permits issued. The cost of plan checking and inspection incurred by City shall be paid by Developer. All Improvements constructed or installed pursuant to this Agreement shall become the property of City, without payment therefor, upon acceptance of those Improvements by City. 3. Time of Completion. Construction of the Improvements shall be completed within twelve (12) months from the date of Developer's execution of this Agreement. In the event Developer fails to complete construction of the Improvements within that time period, City may require Developer's surety to complete the Improvements, or City may complete construction of the Improvements and recoup its expenses for such work from Developer, or Developer's surety, as hereafter provided. 4. Surety Bond. Concurrent with Developer's execution of this Agreement, Developer shall file with City appropriate security pursuant to Government Code section 66499.3, in the form and amount determined by City, to guarantee Developer's performance of this Agreement and Developer's compliance with the provisions of the Redlands Municipal Code. Developer shall also file a bond with City to guarantee payment to Developer's contractors, subcontractors and to all persons providing equipment or furnishing labor or materials to Developer for the Improvements. The bond shall be in the amount required by City in accordance with Sections 66499 through 66499.10 of the Government Code. 5. Effective Date. This Agreement shall not become effective unless and until the final map for the Subdivision is approved by City and accepted for recordation by the County Recorder of the County of San Bernardino. 6. Liability for Nonperformance Neither City nor its elected officials, officers, employees or agents shall be liable to Developer or Developer's contractors, agents or employees for any error or omission by Developer arising out of or in connection with any work performed pursuant to this Agreement. 1:,Pw,I,AtJRIExDevelopment\BONDS.Ti-1610F'sublila rcestdp.�c.wpd 2