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such extension may be granted without notice to the Developer'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. Provided City obtains the easements, rights-of-way <br /> and other property rights necessary to construct the work, <br /> Developer will do or cause to be done and performed the following <br /> described work: <br /> <br /> construction of new on and offramps, traffic signals, <br /> retaining walls, street widening and associated drainage and <br /> temporary detour facilities for the 1-580 Interchange with <br /> Hopyard and Dougherty Roads (Phase IB), <br /> <br /> all as more particularly shown on the plans on file with the <br /> Director of Public works of the City and as such plans are <br /> hereafter modified by either Caltrans or the City. <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 /> Developer, and Developer shall pay City the cost of such <br /> inspection which shall be 4% of the estimated cost. <br /> <br /> The City Engineer has tentatively fixed the inspection costs <br />due upon execution of this agreement as $252,000.00. <br /> <br /> 4. Plans. All of said work shall be done and materials <br />furnished ~strict accordance with the approved plans for said <br />improvements and in accordance with the Standard Specifications <br />and Details of the City of Pleasanton. It is further understood <br />that the work and materials shall be under the supervision of the <br />City Engineer, or his designated agents, and performed and <br />installed to his satisfaction. <br /> <br /> 5. Related Contracts and Proceedings. Any prior contracts <br />between City and Developer 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 /> 6. Security. On signing this agreement, the Developer shall <br />present to the City and file with the City Clerk, improvement <br />security. Said improvement security as approved by the City <br />Attorney, shall consist of the following as determined by the <br />City: <br /> <br /> a. cash deposit made with the City, or <br /> <br /> b. bonds by duly authorized corporate sureties, or <br /> <br /> c. instruments of credit from financial institutions <br /> subject to regulation by the State or Federal <br /> government, or <br /> <br /> - 2 - <br /> <br /> <br />