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special assessments. Said acknowledgment and waiver must be in a form <br />acceptable to the City Attorney. <br />16. Financial Security. The Developer shall furnish the City with a <br />Developer's Bond or Letter of Credit in an approved format in the amount of <br />($ ) prior to the commencement of <br />construction of improvements to guarantee their completion. Said Bond shall <br />be immediately available for the City's use to complete part or all of the <br />construction in a timely and satisfactory manner, as determined by the sole <br />discretion of the City. It shall remain in full force and effect until <br />completion and acceptance of the project based on the sole determination of <br />the City. However, it may be reduced to $ upon the completion <br />of and acceptance by the City of all sanitary sewer, water main, storm <br />sewer and retention ponding, and public streets including the final lift of <br />bituminous. <br />17. Warranty. The Developer warrants all work required to be <br />performed against poor material and faulty workmanship for a period of one <br />(1) year after its final completion and approval by the City. All <br />landscaping including, but not limited to, trees, shrubs, grass seed and <br />sod, shall be warranted to be alive, of good quality and disease free for <br />twelve (12) months from the time of planting. Any replacements shall be <br />warranted to be alive, of good quality and disease free for twelve (12) <br />months from the time of planting. The Developer shall post maintenance <br />bonds or other security acceptable to the City to secure the warranties. <br />.18. Miscellaneous. <br />a. This Agreement shall be binding upon the parties, there <br />heirs, successors or assigns, as the case may be. The Developer may not <br />Page 48 <br />