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I. Reductick of Escrow Guarantee. <br />The Developer may request reduction of the Letter of Credit, or cash deposit based <br />on prepayment or the value of the completed improvements at the time of the <br />requested 'eduction. The amount of the reduction shall be determined and <br />approved b7 the City Engineer and the Finance Director if there is a dispute in the <br />reduction al nount, the City Administratbr shall review the reduction amount If the <br />dispute can not be resolved by the City Administrator the reduction request will go <br />to the City Council. <br />Upon wrftti final acceptance of the sodding and Landscape (Item 6 & 7), a one <br />year warrarly bond shall he provided to the City by the Developer based on 25% of <br />the final cots for sodding & Landscape _identified in Part N. of Article Two unless <br />otherwise directed by the City Engineer. When the warranty bond is received by <br />the City the sodding and Landscape escrow will be reduced to zero. <br />Estimated co S1: of Developer's Improvements for Article Two, the description and <br />completion dat6s are as follows: <br />Estimated Date to he <br />Description of Improvements . Cost Competed <br />1. Site gradi g, certification letter and $ <br />as-buiits <br />2. Street ligh ing <br />3. Lot stakes <br />4. Dead andhr Diseased tree removal $ <br />.6. Erosion c itroUstreet $ <br />sweeping/ ree protection <br />6. Sodding o boulevard (if required in $ <br />common reas) <br />7. Landscapilg 'improvements $ <br />8. Other . • $ <br />Total Esti ate of Part A (items 1-8) $ <br />Estimated Legal, Engineering & $ <br />Administattive, Indirect Costs <br />(15%) • <br />Security l'quirement Part A $ <br />(150%) <br />Total$ <br />On -Going <br />On -Going <br />ARTICLE THREE <br />• CITY INSTALLED IMPROVEMENTS <br />A. In accordance with. the policies and City Codes of the City, the following <br />-5- <br />