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shall provide for competent daily inspection of all street and <br />utility construction, both public and private. As -built <br />drawings on reproducable mylar and certificates of completion <br />and compliance with approved specifications shall also be <br />delivered to the City Engineer. <br />Prior to acceptance by the City of any streets or utilities <br />or commencement.of maintenance thereof by the City, the City <br />Engineer shall inspect and approve the same and signify his <br />approval for acceptance in writing. <br />Developer, by this instrument, agrees to a one (1) year <br />warranty, from and after approval by the City Engineer, in <br />favor of the City covering the workmanship and material in <br />such street and utility improvements. <br />3. BONDING <br />Prior to the approval of the final plat or the issuance <br />of any building permits for this Development, the Developer <br />shall deliver to the City Clerk a "Performance Bond", "Cash <br />Deposit", or "Letter of'Cerdit", in a form acceptable to the <br />City Attorney and in an amount equal to the estimated construc- <br />tion cost plus twenty-five percent (25%). This amount shall <br />be determined by the City Engineer. All streets and utilities <br />which are intended to be owned and maintained by the City shall <br />include: <br />TYPE OF IMPROVEMENT <br />A. Street Improvements <br />B. Drainage Improvements <br />C. Traffic Signing Improvements <br />SST. CONSTRUCTION COST <br />PLUS 25% <br />$31,700.00 <br />17,000.00 <br />1,300.00 <br />-3- <br />