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C. Standard street name signs at all newly opened <br />intersections and such other traffic control signs <br />within the subdivision determined to be necessary by <br />the City Engineer (hereinafter called "Traffic Signing <br />Improvements"); <br />D. Underground gas, electric and telephone service to be <br />arranged by the Developers with the utility companies <br />involved (hereinafter called "Utility Improvements"). <br />2. Design, Inspection and As-Builts and Warranty Related to <br />Improvements. <br />Prior to any construction, plans and specifications for all <br />storm sewer facilities, grading, bituminous curb and bituminous <br />surfacing, whether to be public or private shall be prepared by <br />a Registered Professional Civil Engineer and submitted to the <br />City Engineer for approval. The Developer, through his <br />Engineer, shall provide for competent daily inspection of all <br />street and utility construction, both public and private. <br />As -built drawings on reproducible mylar and certificates of <br />completion and compliance with approved specifications shall <br />also be 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 such <br />street and utility improvements. <br />The developer shall provide all maintenance necessary, <br />including snowplowing, until all improvements are completed and <br />accepted by the City Engineer as previously set forth. <br />3. Performance Assurance. <br />Prior to the approval of the final plat or the issuance of <br />any building permits for this Development, the Developer shall <br />deliver to the City Clerk a "Performance Bond", "Cash Deposit", <br />or "Letter of Credit", in a form acceptable to the City <br />Attorney and in an amount equal to the estimated construction <br />cost plus twenty-five percent (25%). This amount shall be <br />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 Estimated Cost <br />Grading and Drainage Improvements . . . $ 52,118.00 <br />Street Improvements . . . . . . . . . . 42,956.25 <br />Staking and Inspection . . . . . . . . 2,500.00 <br />+ 25% per Ordinance . . . . . . . . . . 24,393.56 <br />TOTAL LETTER OF CREDIT AMOUNT . . . . . $121,967.81 <br />-2- <br />