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': G � r�5 . � 1�'[� � . � f ' " ' I <br /> ' �. r �z � � ,,,1 <br /> , : � � ; ` F� , ; : � , '�� <br /> ��.��1 AT.,�. l�{ � ��'� ! � �%. � : ,��,ir}irv u:: � �� � �. 1 � ''� ��'.'�. S �� 1 � �. �j <br /> ��r: C 8V ` � =i � ..y� + �i � t f� 1 ��°� '''!i':1p� <br /> J� r <br /> 1 i�� �' . . -.2 <br /> i r. . �"' i �� �i!r�r <br /> , ' ' '.l��.:�. �\ �� � ���� <br /> , :!. l. . •! I�. . • . . . 1. t.�.. . . . . ._. .� .. . . . . . . .. . . .. <br /> 1 (a) Performance Bond Prior to commencing construction, the developer <br /> 2 constructing the facility shall post a performar.ce bond in an amount of <br /> 3 120% of ihe cost of construction per the approved drainage p(ans. After <br /> 4 determination by the City Engineer that all facilities are constructed in <br /> 5 compliance with the approved plans, the performance bond shall be released. <br /> 6 Alternatively, an equivalent cash deposit to an escrow account administeied <br /> 7 by alocal bank designated by the City may be acceptable. <br /> 8 (b) Maintenance Warranty Bonds After satisfactory completion <br /> 9 of the :acilities and release of the performance bond by the City, the developer <br /> 10 constructing the facility shall commence a two (2) year period of satisfactory <br /> I1 maintenance of the facility. A warranty bond to be used at the discretion <br /> 12 of the City Engineer to correct deficiencias in said maintenance affecting <br /> 13 public health, safety and welfare must be posted and maintained throughout <br /> l4 the two year maintenance period. The amount of the warranty bond shall <br /> ' 1S be ten percent of the estimated construction cost of the drainage facilities. I <br /> 16 I� addition, the warranty bond shall cover the cost of design defects and/or � <br /> 1'7 failures in workmanship of the facilities throughout the two year maintenance <br /> �g period. Alternatively, an equivalent cash deposii to an escro�v account <br /> 19 administered by a local bank designated by the City may be acceptable. <br /> 2p ' (c) Liability Policy The developer constructing the facility shall <br /> 21 maintain a liability policy in the amount of two h�ndred thousand dollars <br /> 22 per individual, five hundred thousand dollars per occurrence, and one <br /> , 23 hundred thousand dollars properTy damage, which shall name the City as <br /> � 24 as additional insured and which shall protect the City from any liability <br /> , <br /> 25 up to those amounts for any accident, negligence, failure of the facility, <br /> ' � <br /> 26 or any ottier liability whatsoever, relating to the construction or maintenance <br /> ' 27 of the facility. Said liabil�ty policy shall be maintained for the duration <br /> ; 2$ of the facility by the owner of the facility, provided that in the case of <br /> ; 29 facilities assumed by the City for maintenance pursuant to Section 10 oi <br /> 30 this ordinance, said liability policy shall be terminated �uhen City Council <br /> ti 31 accepts the facility and City maintenance responsibility commences. <br /> I 1 I, <br /> 32 <br /> _�p_ <br />