Laserfiche WebLink
valued at ten percent (10%) of the estimated value of the <br /> public improvements. <br /> <br /> One bond shall be in the amount of 100% of the total estimated cost of the <br /> work conditioned upon faithful performance of this Agreement, and the <br /> other bond in the amount of 100% of the total estimated cost of the work <br /> for the public improvements shall secure payment for labor and materials. <br /> <br /> Instruments of credit shall be in an amount not less than 100% of the total <br /> estimated cost of improvements, which is as follows: <br /> <br /> $750,000 <br /> <br /> In the event of any breach by Developer, City may take over the work and <br /> prosecute the same to completion by any method the City deems advisable. <br /> Said work shall be for the account and at the expense of the Developer. <br /> Developer shall be liable to the City for any excess costs or damages <br /> suffered by the City. <br /> <br /> 5. All other terms of the Offsite Improvement Agreement remain in full <br />force and effect. <br /> <br /> FIRST AMENDMENT TO OFFSITE IMPROVEMENT AGREEMENT <br /> Page 4 of 5 <br /> <br /> <br />