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aligning repaired sections with existing shoulder, and will include repair of all damaged surface in <br /> the Project Area. <br /> 3. Obligations of Builder. Builder is required to do all of the following: <br /> A. Time is of the essence with this Project,and accordingly,Builder must complete the Project <br /> to the City's full satisfaction on or before June 1, 2024, including any restoration of any <br /> public or private landscaping, turf,trees, shrubbery, infrastructure, or other improvements <br /> that are disturbed by the Project, as well as any "punch list" items identified by the City <br /> during an inspection upon substantial completion of the Project. All work related to the <br /> Project must comply with City specifications for street projects. <br /> B. Prior to commencement of construction of the Project, Builder will provide the City with <br /> complete construction plans for the Project, and make any changes or modification to such <br /> plans as directed by the City. Builder will design and construct the Project so as to ensure <br /> public safety and to minimize disruption to the public and neighboring properties. <br /> C. Following approval of the plans for the Project and prior to entering onto the public <br /> property to construct the Project, Builder must coordinate with the City as to any street, <br /> sidewalk, or trail closures that will be necessary for performance of Project activities, as <br /> well as signs necessary to direct traffic or pedestrians in the interest of public safety. <br /> Builder must provide the City with notice at least five business days prior to <br /> commencement of construction of the Project. <br /> D. Upon substantial completion of the Project, Builder must notify the City of the same, and <br /> request an inspection of the Project by the City. <br /> 4. Obligations of the City. The City is required to do all of the following: <br /> A. Upon execution of this Agreement, receipt of the escrow funds, and completion of any <br /> other applicable requirements,the City will close the building peilnit and issue a Certificate <br /> of Occupancy for the Property. <br /> B. If Builder does not complete the Project to the City's full satisfaction on or before June 1, <br /> 2024, the City will complete the Project at Builder's expense with all out-of-pocket City <br /> costs being reimbursed from the Escrow Account. <br /> C. Upon notice of substantial completion of the Project, the City will conduct an inspection <br /> of the work. No escrow funds will be returned to Builder until the City has conducted a <br /> final inspection of the Project. <br /> 5. Disbursement from Escrow Account. The City may draw from the escrow account from <br /> time to time without further approval of Builder to reimburse the City for eligible expenses the <br /> City has incurred. The City is not obligated to notify Builder of any draw on the Escrow Account. <br /> 2 <br /> 227228 <br />