Resolution 2020-25 - Laserfiche WebLink

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unsatisfactory. The City shall retain the remaining fifteen percent (15%) of the Financial Guarantee to secure the Developer's continued performance under the Agreement until the warranty period set forth in subsection (e) has expired, and upon expiration of such period shall refund the remainder of the Financial Guarantee to the LRC. C. The Parties shall each keep, or cause to be kept, proper and current books and accounts in which complete and accurate entries shall be made for costs associated with the Project and Project Improvements, and payments made by and received from the City under this Agreement. d. Construction Acceptance. No later than ten (10) days after improvements are completed, Developer shall request inspection by the City. If Developer does not request this inspection within ten (10) days of completion of improvements, the City may conduct the inspection without the approval of Developer. Developer shall provide "as -built" drawings and a certified statement of construction costs no later than thirty (30) days after improvements are completed. If improvements completed by Developer are satisfactory, the City shall grant "construction acceptance", which shall be subject to "final acceptance" as set forth herein. If improvements completed by Developer are unsat- isfactory, the City shall provide written notice to Developer of the repairs, replacements, construction or other work required to receive "construction acceptance." Developer shall complete all needed repairs, replacements, construction or other work within thirty (30) days of said notice, weather permitting, or by an extended amount of time approved by the City in writing in advance, based on the City's determination that the repairs, replacements, construction or other work are of the nature that the items cannot be completed within thirty (30) days even though the Developer has diligently worked to complete said items. After Developer does complete the repairs, replacements, con- struction or other work required, Developer shall request of the City a re -inspection of such work to determine if construction acceptance can be granted, and the City shall provide written notice to Developer of the acceptability or unacceptability of such work prior to proceeding to complete any such work at Developer's expense. The City reserves the right to schedule re -inspections, depending upon scope of deficiencies. No certificate of occupancy shall be issued for the Project prior to construction acceptance of the Project Improvements. e. Warranty & Maintenance of Improvements. For a Two (2) year period from the date of "construction acceptance" of the Project Improvements, Developer shall, at its own expense, take all actions necessary to maintain said improvements and make all needed repairs or replacements which, in the reasonable opinion of the City, shall become necessary. If within thirty (30) days after Developer's receipt of written notice from the City requesting such repairs or replacements, the Developer has not completed such repairs, the City may exercise its rights as provided in Section (3) below. Notwithstanding the above, the Developer and each successor owner of the Project shall be responsible for the maintenance obligations provided for herein.