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notice to the Developer's surety, and extension so granted shall <br /> not relieve the surety's liability on the bond to secure the <br /> faithful performance of this agreement. <br /> <br /> 2. Work. Developer will do or cause to be done the <br /> following described work: <br /> <br /> Construction of retaining walls, associated drainage and <br /> temporary relocation of the on-ramp facilities in the <br /> southeast and northwest quadrants of the 1-580 <br /> interchange with Hopyard and Dougherty Roads, <br /> <br />all as more particularly shown on plans on file with the Director <br />of Public Works of the City and as such plans are hereafter <br />modified by either CalTrans or the City. <br /> <br />3. Liquidated Damages. The Developer shall commence work as <br />soon as feasible following the execution of the Agreement by City <br />and shall work diligently until completion. The Developer shall <br />pay to the City of Pleasanton as liquidated damages the sum of <br />ONE HUNDRED FIFTY AND NO/100THS DOLLARS ($150.00) per day, for <br />each and every calendar day delay in finishing the work. <br /> <br /> 4. 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 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 /> $27,400.00 <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 />improvements, said plans to be approved by the Director of Public <br />Works of the City prior to the beginning of construction. It is <br />further understood that the work and materials shall be under the <br />supervision of the City Engineer, and performed and installed to <br />his satisfaction. <br /> <br /> 6. 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 heroin. <br /> <br /> 7. Security. On signing this agreement, the Developer <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 /> a. cash deposit made with the City, or <br /> <br /> - 2 - <br /> <br /> <br />