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Specification 3151 applied at the rate of 0. 35 gallons per square yard and FA-3 aggregate conforming to Mn/DOT Specifications 3137 applied at the rate of 35 lbs. per square yard shall be placed. Subd. 4 Warranty. All new streets shall be warranted by the developer or contractor as to good workmanlike construction and to meet all City requirements for a period of one (1) year from the time the final inspection of such street has been completed and the Council has accepted the same for full City maintenance. This section shall not relieve the developer or contractor from the usual contract obligations of good workmanlike construction. When a contractor's letter of credit has been established, it may be reduced to an amount equal to 150% of the established cost of construction of the wearing surface and sealcoat upon completion of all other contruction items, including the gravel base. or bituminous binder course; and will be further reduced to an amount equal to 150% of the estimated cost of the bituminous sealcoat upon the completion of the bituminous wearing course. Prior to acceptance by the City, the developer installed projects shall deposit with the City the sum of 20%, in the form of a surety bond, cash, or other form of security approved by the City Council, of the total original cost of construction to assure performance in compliance with this section. 302.07 Variations and Exceptions. The Council may permit variations from these requirements in specific cases which, in its opinion, do not affect the general sense of this chapter. Additional requirements shall be complied with as imposed by the city engineer, public works director and City Council. Minor variations to the requirements of this section may be allowed with the concensus of the public works director, city engineer and city administrator. (302 amended by Ordinance No. 03 - 90 passed May 29, 1990. ) 58