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Exhibit B. and in conformity with all applicable federal, state and local laws, rules, ordinances and
<br />regulations, including the Los Altos Hills Municipal Code. Applicants shall be required to obtain an
<br />encroachment permit from the Town and comply with all applicable terms and conditions of such
<br />permit, and shall also be responsible for obtaining any and all other required permits and other
<br />governmental approvals necessary for the construction and installation of the Project. If Applicants
<br />fail to construct the Project in accordance with this Agreement, such failure shall constitute a breach
<br />of the Applicants' obligations herein and the Town shall be entitled to enforce the Applicants' bond
<br />or security as provided in Section 5 below.
<br />2. Timing of Construction. Applicants shall complete construction of the Project no later than
<br />June 5, 2025.
<br />3. Inspection and Acceptance by the Town. Upon completion of construction by Applicants,
<br />the Town shall have the right to inspect, measure, survey, and test the Project for compliance with the
<br />approved plans and specifications.
<br />4. Dedication. Upon final inspection and approval by the Town of the Project, Applicants shall
<br />deliver to the Town an irrevocable offer of dedication substantially in the same form set forth on
<br />Exhibit C attached hereto ("IOD") offering the Old Ranch Lane Sanitary Sewer Main Extension to
<br />the Town; provided, however, the IOD shall be subject to, and not allow acceptance by the Town
<br />until, all of the conditions precedent in Sections 1-3 above are satisfied. ,
<br />5. Provision of Security. Applicants agree to guarantee the completion of the Project and, as
<br />security for that guarantee, Applicants shall provide the Town with security, in the form of a cashier's
<br />check or bond, no more than one hundred percent (100%) of the estimated cost of constructing the
<br />Project as approved by the City Engineer. The Town shall release the security for completion of the
<br />sewer extension upon final inspection and approval by the Town. Applicants shall also file with the
<br />City a two (2) year warranty bond or equivalent security in a form and in an amount, and with a surety
<br />acceptable to City, to warrant the Project against any defective work or labor done or defective
<br />materials furnished following the Project being accepted by the Los Altos Hills City Council.
<br />6. Responsibility of Applicant. Applicants acknowledge and agree that they shall be
<br />responsible for the construction, maintenance, upkeep and any issues relating to the condition of the
<br />Project until such time that the sewer line has been dedicated to and accepted by the Town. Upon
<br />acceptance of dedication by the Town, the Applicants shall not have responsibility for the Old Ranch
<br />Lane Sewer Main Extension line.
<br />7. Indemnity. Applicants agree to indemnify, defend (with counsel approved by Town) and
<br />hold the Town and its respective elected and appointed officers, officials, employees, agents,
<br />consultants, and contractors (collectively, the "Indemnitees") harmless from and against all liability,
<br />loss, cost, expense (including without limitation attorneys' fees and costs of litigation), claim, demand,
<br />action, suit, judicial or administrative proceeding, penalty, deficiency, fine, order, and damage (all of
<br />the foregoing collectively "Claims") which directly or indirectly, in whole or in part, are caused by,
<br />arise in connection with, result from, relate to, or are alleged to be caused by, arise in connection
<br />with, or relate to, Applicants' performance of their obligations under this Agreement prior to the
<br />Town approving and accepting dedication of the Old Ranch Lane Sanitary Sewer Main Extension.
<br />Applicants' indemnification obligations set forth in this Section shall not apply to the extent of Claims
<br />arising from the gross negligence or willful misconduct of the Indemnitees.
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