Agenda Packets - 2000/08/14 - Laserfiche WebLink

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RJV-184370v2 MU210-48 9 notice form the Developer of the existence of unavoidable delays. If an extension of the date of completion of the Improvements is grated by the City, the Developer must continue the performance bond required by this Agreement to cover the work during the extension of time. Section 4.7. Additional Work or Materials. Construction of the Improvements shall be done by the Developer. The Improvements shall be constructed at no expense to the City. The Developer shall not do any work or furnish any materials for which reimbursement is expected from the City, unless such work is first ordered and reimbursement is approved by the City. Any work or materials which is done or furnished by the Developer without prior written order is furnished at the Developer’s risk, cost and expense, and the Developer agrees that it will make no claim for compensation for work or materials so done or furnished. Section 4.8. Financial Guarantee. Prior to commencement of construction of the Improvements, the Developer agrees to furnish the City a performance bond, certified check, certificate of deposit, irrevocable letter of credit or cash escrow (the “Financial Guarantee”) in the amount of 150% of the City’s estimated costs for that portion of the Improvements which are public improvements, such as sidewalks, trailways, lighting, storm sewers, stormwater pond, and wetland restoration. The estimated cost for such public improvements is set forth in Exhibit G. Upon failure of Developer to perform, the City may declare the Developer to be in default under this Agreement and, upon failure of the Developer to cure the default within 30 days of written notice, may demand the Financial Guarantee be paid over to the City. From the proceeds of the Financial Guarantee, the City shall be reimbursed for any attorneys’ fees, engineering fees or other technical, administrative or professional assistance, and the remainder thereof shall be used by the City to complete the Improvements. The Developer shall be liable to the City in the event that the Financial Guarantee is inadequate to reimburse the City for its costs and pay for the completion of the Improvements. Section 4.9. Insurance. The Developer shall furnish proof of liability insurance in an amount of at least $1,000,000, acceptable to the City, covering any public liability or property damage by reason of the operation of the Developer’s equipment or laborers in connection with the Improvements. Developer agrees to keep the insurance in force at all times during construction of the Improvements and until acceptance thereof by the City. The insurance must name the City as an additional insured and must provide that the insurer will give the City not less than 30 days’ written notice prior to cancellation or termination of the insurance policy. Section 4.10. Unsatisfactory Labor or Material. In the event that the City rejects as defective or unsuitable any material or labor supplied by the Developer regarding the Improvements, the rejected material must be removed and replaced with approved material and the rejected labor must be done again to the specifications and approval of the City and at the sole cost and expense of the Developer. Section 4.11. Warranty on Property Work and Materials. The Developer warrants all work required to be performed by it under this Agreement regarding the Improvements against defective material and faulty workership for a period of one (1) year after completion and acceptance by the City, except that the warranty period for the drainage and erosion control portions of the Improvements shall be for two (2) years after completion and acceptance by the City. All trees, grass, sod or other landscaping installed in connection with the Improvements, or