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e. a maintenance bond for a period of one year following final <br />acceptance by the City Council of said public improvements <br />valued at ten percent (10%) of the estimated value of the <br />public improvements. <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 />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 />$ 750,000 <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 />5. All other terms of the Offsite Improvement Agreement remain in full <br />force and effect. <br />The parties hereto affix their signatures to this Amendment as of the date <br />and year first written above. <br />CITY OF PLEASANTON <br />By: <br />Nelson Fialho <br />City Manager <br />DEVELOPER: <br />BERNAL INVESTMENT COMPANY, LLC, a <br />Delaware limited liability company <br />By: GHC Bernal Investors, LLC, <br />a Delaware limited liability company, <br />Its Manager <br />ATTEST: <br />C'' <br />l~i~Z. ~ Clerk <br />APPROVED AS TO FORM: <br />~,/ Michael H. Roush, City Attorney <br />By: Greenbriar Homes Communities, Inc, <br />is or or do Manager <br />By: <br />Name: a rick Costanz <br />Title: Executive Vice President <br />FIRST AMENDMENT TO OFFSITE IMPROVEMENT AGREEMENT <br />Page 4 of 5 <br />