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Development Contract — Site Grading Only <br />The Preserve <br />July 23, 2007 <br />12. Cost of Developer's Improvements, description and completion dates are as <br />shown on Attachment A. <br />13. Construction of Developer's Improvements: <br />a) The construction, installation, materials and equipment shall be in <br />accordance with the plans and specifications approved by the City. <br />b) All of the work shall be under and subject to the inspection and <br />approval of the City and, where appropriate, any other governmental <br />agency having jurisdiction. <br />c) Prior to the acceptance of Developer Improvements by the City, the <br />Developer shall obtain final plat approval and record the final plat <br />which will dedicate all permanent easements necessary for the <br />construction and installation of the Developer's and City's <br />Improvements as determined by the City. <br />d) All Construction debris and trash shall be properly disposed of at the <br />developers expense and in a timely manner as determined by the <br />City. <br />14. The Developer shall be required to obtain all necessary permits and <br />approvals from all governmental agencies as required, including necessary <br />right -of -way, temporary easements, or permanent easements for the <br />construction. <br />15. The Developer shall make an application to FEMA for a Letter of Map <br />Amendment (LOMA) or Letter of Map Revision (LOMR) to revised the <br />existing Flood Plain maps consistent with the proposed grading plan. <br />16. Guarantee <br />a) Faithful Performance of Construction Contracts and Letters of Credit <br />(1) The Developer will fully and faithfully comply with all terms <br />and conditions of any and all contracts entered into by the <br />Developer for the installation and construction of all <br />Developer's Improvements and hereby guarantees the <br />workmanship and materials for a period of one year <br />following the City's final acceptance of the Developer's <br />Improvements. Concurrently with the execution hereof by <br />the Developer, the Developer will furnish to, and at all times <br />thereafter maintain with the City, a cash deposit, certified <br />check, or Irrevocable Letter of Credit, based on one hundred <br />fifty (150 %) percent of the total estimated cost of <br />page 7 <br />- 1 3 8 - <br />