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<br />CITY <br />when the releases the financial guaranty described in Section 6 or allows <br />such financial guarantee to lapse, expire or otherwise terminate. <br /> PERMITTEECITY <br />11.Stage I Improvements License. The hereby grants the and <br />the agents, employees, officers, and contractors an irrevocable license to <br />enter the Subject Property to perform all necessary work and/or inspections the <br />CITY <br /> deems appropriate during the installation of the Stage I <br />CITY <br />Improvements. The license shall expire after the accepts ownership of Stage <br />I Improvements. <br /> CITYPERMITTEE <br />12.Stage II Improvements. The improvements the must <br />construct or install are as follows: <br /> <br />a.Street striping and signing. <br /> <br />b.Seal coating. <br /> <br />c.Streetlights. <br /> <br />d.Inspection. <br /> <br />e.Survey Monuments. <br /> <br />PERMITTEE <br />must complete the construction <br />of the Stage II Improvements within one (1) year after the date upon which the Plat <br />is recorded. The Plat must be recorded within two (2) years of approval by the <br />CITY <br />. <br />PERMITTEE <br /> must install the Stage II Improvements in accordance with the <br />PERMITTEECITY <br />Plans. Per City Code Section 117-615, the shall provide the <br />with a set of re-producible as-built plans in Computer Aided Drafting (CAD) format <br />CITY <br />upon completion of the Stage II Improvements and acceptance by the . As <br />as-built plans are a required Stage II Improvement item per City Code Section 117- <br />CITY <br />615, the will not release the required Stage I Improvement Financial <br />PERMITTEE <br />Guarantee noted in paragraph #6 above. Additionally, the agrees to <br />CITY <br />provide to the the plans in CAD format prior to the commencement of <br /> <br />construction of the Stage II Improvements. <br /> PERMITTEE <br />13.Financial Guaranty for Stage II Improvements. The shall provide a <br />CITY <br />financial guarantee to the guaranteeing the construction of the Stage II <br />Improvements and their timely completion. Said financial guarantee is already <br />covered in Paragraph #6 above. No additional amount is necessary. <br /> PERMITTEE <br />14.Warranty for Stage I and Stage II Improvements. The shall provide <br />a one year warranty in the form of a maintenance bond in the amount of 125% of <br />the cost of the Stage I and Stage II Improvements. Said warranty shall be in force <br />for one year following the final acceptance of any require improvements and shall <br />guarantee satisfactory performance of said improvement. <br /> <br /> <br />