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1. Time of Essence. Time is of the essence in the <br />performance of this agreement. The word and improvements <br />required by this agreement to be completed by Subdivider shall be <br />completed within one (1) year from the above-mentioned date of <br />this agreement. <br /> <br /> The City~m_ay extend the time for completion of improvements <br />hereunder, upon good cause being shown by the Subdivider. Any <br />such extension may be granted without notice to the Subdivider~s <br />surety, and extension so granted shall not relieve the surety~s <br />liability on the bond to secure the faithful performance of this <br />agreement. <br /> <br /> 2. Work. Subdivider will do or cause to be done and <br />performed the following described work: Improvements pursuant to <br />plans entitled "Improvement Plans, Tract 5835, Vintage Heights <br />II, Pleasanton, California," prepared by Alexander and <br />Associates, dated January 1988. <br /> <br /> 3. Inspection. City shall inspect all of said work through <br />an inspector employed by City at the cost and expense of <br />Subdivider, and Subdivider shall pay City the cost of such <br />inspection as fixed by Ordinance. <br /> <br /> The City Engineer has tentatively fixed the inspection costs <br />due upon execution of this agreement as follows: <br /> <br /> $42~910.00 <br /> <br /> 4. Soils Report. Subdivider shall provide a preliminary <br />soil report as required by Section 66490 of the Government Code. <br />Said data shall be compiled by a qualified soils testing engineer <br />without expense to the City. <br /> <br /> 5. Plans. All of said work shall be done and materials <br />furnished in strict accordance with the approved plans for said <br />tract filed with the City Engineer, and in accordance with the <br />standard specifications and details of the City of Pleasanton. <br />It is further understood that the work and materials shall be <br />under the supervision of the City Engineer, and performed and <br />installed to his satisfaction. <br /> <br /> 6. Related Contracts and Proceedings. Any prior contracts <br />between City and Subdivider and any prior approvals by Boards, <br />Commissions or Council of City shall not be affected by the <br />provisions of this agreement unless specific modification is set <br />forth herein. <br /> <br /> 7. Security. On signing this agreement, the Subdivider <br />shall present to the City and file with the City Clerk, <br />improvement security as defined in Section 66499 of the <br />Government Code of the State of California. Said improvement <br />security as approved by the City Attorney, shall consist of the <br />following as determined by the City: <br /> <br /> - 2 - <br /> <br /> <br />