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b. Water <br /> C. Storm drainage facilities <br /> d. Stormwater maintenance <br /> e. Parking nodes <br /> f. Concrete curb and gutter <br /> g. Lot grading <br /> h. Landscaping <br /> 12. Financial Guaranty for Stage I Improvements, Stage II Improvements, and Required <br /> Private Improvements. The PERMITTEE shall provide a financial guarantee to the CITY <br /> guaranteeing the construction of the Stage I Improvements, Stage II Improvements, <br /> Required Private Improvements, and their timely completion. The PERMITTEE shall be <br /> responsible for a financial guarantee in the amount of($1,607,260.00), which amount is <br /> 125% of the CITY Engineer's estimated cost of the Stage I Improvements. Upon <br /> completion of Stage I Improvements(including the removal of"temporary"erosion control <br /> measures as identified in the approved Grading Plan), acceptance by the CITY, supported <br /> by appropriate lien waivers, The PERMITTEE may request a reduction in the amount of <br /> the financial guarantee. <br /> 13. Inspection Fees for the Stage I Improvements, Stage II Improvements, and Required <br /> Private Improvements. The PERMITTEE shall provide an inspection fee to the CITY to <br /> inspect the Stage I Improvements, Stage II Improvements, and Required Private <br /> Improvements. The PERMITTEE shall be responsible for an inspection fee in the amount <br /> of($64,290.00), which amount is 5% of the City Engineer's estimated cost of the Stage I <br /> Improvements, Stage II Improvements, and Required Private Improvements. The <br /> inspection fee must be in the form of a cash escrow. The PERMITTEE may request a <br /> refund of the remaining balance in the escrow upon completion of the Stage I <br /> Improvements, Stage II Improvements, and Required Private Improvements, acceptance <br /> by the CITY. <br /> 14. Warranty for Stage I and Stage II Improvements. The PERMITTEE shall provide a one <br /> year warranty in the amount of$321,452.00, which is 25% of the cost of the Stage I and <br /> Stage II Improvements. Said warranty shall be in force for one year following the final <br /> acceptance of any required improvements and shall guarantee satisfactory performance of <br /> said improvement. The warranty must be in the form of a Letter of Credit in a form <br /> acceptable to the CITY'S Finance Director or a cash escrow. <br /> 15. Maintenance Guarantee for Landscaping_ It is herein agreed that the PERMITTEE shall <br /> provide the CITY a maintenance guarantee to ensure the survival of the plantings. Said <br /> maintenance guarantee shall consist of cash or a Letter of Credit, approved as to form by <br /> the CITY, in the amount of$21,240.00. [#plantings (236 trees)x cost/planting($300/tree <br /> x 30% average non-survival rate, which shall be in effect for a two-year period <br /> commencing on the date of the CITY's acceptance of said plantings as part of the Required <br /> Private Improvements. <br /> At the end of the two-year period, the maintenance guarantee shall be returned to the <br /> PERMITTEE. The determination that all plantings that have been planted in accordance <br /> with the Plans have either survived or have been replaced shall be made by the CITY. In <br /> the event the PERMITTEE fails to maintain the required plantings for a two-year period, <br /> the City Council may order the replacement of plantings with CITY day labor and/or by <br /> 4 <br />