Item #10 Tract 16322 - Laserfiche WebLink

Browse Search

If the Subdivider/Developer and the surety fail to install all or any part of the improvements required by this agreement within the time set forth herein, or fail to comply with any other obligation contained herein, they shall be jointly and severally liable to the City for any administrative expenses and attorney's fees incurred in obtaining compliance with this agreement and any such expenses and fees incurred in processing any action for damages or for any other remedies permitted by law. The Subdivider/Developer agrees to dedicate to City any and all off-site public utility easements deemed necessary by City to adequately serve the development. It is further understood and agreed upon default of any obligation hereunder, and at any time after any such default, the City may make written demand upon the Subdivider/Developer or surety or both to immediately remedy the default or complete the work. If said remedial activities or completion of work are not commenced within seven days after such demand is made and are not hereafter diligently prosecuted to completion and fully completed within thirty days after the making of such demand (or such other time as may be contained in said demand), the City may then complete or arrange for completion of all remaining work or conduct such remedial activity as in the sole judgment of the City may be required, all at the expense and obligation of the Subdivider/Developer and surety and all without the necessity of giving any further notice to the Subdivider/Developer or surety before the City performs or arranges for performance of any remaining work or improvements, and whether or not the Subdivider/Developer or surety have constructed any of the required improvements at the time. In the event the City elects to complete or arrange for completion of remaining work and improvements, the City Engineer, upon such election, may require all work by the Subdivider/Developer or surety to cease in order to permit adequate coordination by the City for completing any remaining work and improvements not yet completed. It is agreed that all work and improvements done pursuant to this agreement shall conform to the standards applicable at the time work is actually commenced. The Subdivider/Developer shall provide security in the amount of S 210.925.50 ( Two Hundred Ten 'Thousand Nine Hundred Twenty Five Dollars and 50/100) to guarantee the performance of this agreement. In addition, the Subdivider/Developer shall provide security in the amount of S 105.462.75 ( One Hundred Five Thousand Four Hundred Sixty Two Dollars and 75/100) to guarantee payment to any contractors, sub -contractors, and persons furnishing labor, materials,. and equipment to them for the performance of the work herein described. Said security shall be in the form of Corporate surety bonds or cash deposits, etc. The surety company that guarantees said improvement/labor shall be an admitted carrier in the State of California. The Subdivider/Developer further acknowledges and agrees that if at the time Final Map is approved by the City Council, the plans for the improvements required herein have not been approved by the City, then the Subdivider/Developer agrees to install all such improvements in accordance with the plans and specifications as they are finally approved, including all changes, modifications and corrections as may be required by the City, Riverside County Flood Control District, and any other agency having jurisdiction, and shown thereon.