TYWAPIB8-2016
3. If Developer fails to make repairs within 60 days of receipt the City’s written notice, the City
may elect to make such repairs, the Developer shall reimburse the City for all expenses
associated with such repairs no later than forty-five (45) days from demand for reimbursement
from the City.
4. If during the two-year Warranty Period, the City Engineer or her designee determines that any
of the Improvements, including drainage improvements need emergency maintenance in order
to comply with federal, state or local water quality regulations, or if the City Engineer or her
designee determines that any street or drainage or other infrastructure Improvements require
emergency repairs in order to protect the public health, safety or welfare, then the City
Engineer or her designee may demand in writing of Developer that such repairs or maintenance
be completed within fifteen (15) calendar days from receipt of such demand notice from the
City. Should the Developer fail to complete such maintenance or repairs of such Improvements
within fifteen (15) calendar days of receipt of such demand notice from the City, then the City
may perform such emergency maintenance or complete such emergency repairs to the
Improvements and Developer shall be responsible for the costs of any such repairs or
maintenance to the Improvements performed by the City and shall reimburse the City for all
expenses associated with such repairs no later than forty-five (45) days from receipt of a
demand for reimbursement from the City.
5. As a condition of this Agreement, the Developer shall provide a bond, attached hereto and
incorporated herein as Exhibit A, in a form acceptable to the City for the benefit of the City
(hereinafter the “Warranty Bond”). The Warranty Bond shall contain the following terms:
A. The amount of the Warranty Bond shall be ________Dollars and ___/100 ($_________),
which represents ten percent (10%) of the cost of the constructed Improvements as shown
on the As Builts approved by the city engineer and as verified by an independent cost
estimate for the construction of the Bonded Improvements prepared
by______________________, attached hereto and incorporated by reference herein as
Exhibit B. The Warranty Bond shall either be provided by a reputable Federal Treasury
Department approved bonding company with at least a rating of A minus or in another
form acceptable to the City.
B. The Developer shall authorize the City to draw against the Warranty Bond upon
presentation of a statement signed by an authorized officer of the City that the Developer
has failed to maintain or repair the Improvements as required under this Agreement.
C. In the event the City performs maintenance or repairs to the Improvements, the Developer
hereby agrees to give the City access to the approved As Built drawings for the Project and
to draw against the Warranty Bond to pay for the necessary maintenance or repairs to the
Improvements. If necessary, the Developer shall cause the Warranty Bond to be extended
by the Surety of the Warranty Bond, in order to provide the Surety or the City with
sufficient time in which to complete the maintenance or repairs to the Improvements and
draw against the Warranty Bond to pay for such maintenance or repairs in accordance with
this Agreement.