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1. Time of Essence. Time is of the essence in the <br />performance of this agreement. The work and improvements <br />required by this agreement to be completed by Developer shall be <br />completed within one (1) year from the above mentioned date of <br />this agreement subject to delays beyond the control of Developer <br />and to the continuing validity of all governmental approvals <br />granted in connection with the development of Hacienda Business <br />Park and Pleasanton Park Business Center. <br /> <br /> The City shall extend the time for completion of <br />improvements hereunder, upon good cause being shown by the <br />Developer. Any such extension may be granted without notice to <br />the Developer's surety, and extension so granted shall not <br />relieve the surety's liability on the bond to secure the faithful <br />performance of this agreement. <br /> <br /> 2. Work. Provided City obtains the easements, rights <br />of way 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 />Improvements pursuant to Street Improvement <br />Plans, Hopyard Road, Owens Drive, and Owens <br />Court Widening, Pleasanton, California, <br />prepared by Bissell and Karn, dated June, <br />1982; <br /> <br />All appurtenant traffic signal and <br />landscaping construction in conformance with <br />plans on file with City Engineers; <br /> <br />all as more particularly shown on the plans attached as Exhibit <br /> <br /> 3. Inspection. City shall inspect all of said work <br />through 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 <br />costs due upon execution of this agreement as follows: <br /> <br />$57,200.00 <br /> <br /> 4. Plans. All of said work shall be done and <br />materials furnished in strict accordance with the approved plans <br />for said improvements, as shown on the attached Exhibit "A", and <br />in accordance with the standard specifications and details of the <br />City of Pleasanton. It is further understood that the work and <br />materials shall be under the supervision of the City Engineer, <br />and performed and installed to his satisfaction. <br /> <br />-2- <br /> <br /> <br />