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B. Completion Date - All Improvements shall be completed no later than C. Contractors - The Developer shall select, retain and supervise the Contractor(s) responsible for Improvement construction. The City reserves the right to require satisfactory proof of successful experience and adequate financial status of any such contractor. Where required by City ordinance, the contractor shall first obtain a license from the City. D. Pre-Construction Conference - Prior to the start of any construction, the Developer and the Developer's Contractor shall meet with the responsible City official to review construction plans and schedules. E. Permits-Prior to the start of any construction,the Developer's Contractor shall apply for and receive all necessary permits from the City and/or government agencies having jurisdiction. F. Construction-The construction,installation and materials shall be in accordance with the plans and specifications approved by the City. G. Insurance - The Developer will cause each person who constructs and installs any Improvement to maintain complete insurance coverage including Workmen's Compensation, Liability and Property Damage. 12. Performance Deposit: For the purposes of assuring to the City that the Improvements will be completed according to the terms of this agreement, and that the Developer will pay all claims for work done and materials and supplies furnished,the Developer has deposited with the City at the time of the execution of this agreement an irrevocable letter of credit in a form satisfactory to the City providing that the City is able to draw upon such letter of credit in its sole discretion to complete the Improvements ifthe Developer fails to satisfactorily complete the work prior to the completion date specified in Section above. The amount of such deposit is $ per the schedule attached to this document as Exhibit D. The amount of such deposit shall not be reduced before substantial completion of the Improvements. The letter of credit shall expire no sooner than six months after the completion date specified in Section above. 13. Fees and Expenses: The Developer agrees to pay all City fees required per the current City Fee Schedule and further agrees to completely reimburse the City for all the variable additional expenses it incurs in regard to the review and approval of the Improvements including, but not limited to, direct City payroll and overhead, costs, and fees paid to consultants and other professionals. 14. TIF Financial Arrangements: 15. 16.