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amount not to exceed the lesser of $95,692 or 30% of the actual construction contract <br />cost of the Public Improvements (excluding bonds and insurance) and an additional <br />amount not to exceed $20,432.00 for design fees associated with drainage system <br />oversize. The Developer shall execute a performance bond for the construction of the <br />Public Improvements. The bond shall name City as the primary obligee and shall be in <br />an amount equal to 100% of the construction contract for the Public Improvements. City <br />agrees that this performance bond, when approved in a form acceptable to the San <br />Marcos City Attorney, shall be deemed sufficient for purposes of §212.073 of the Texas <br />Local Government Code and to meet the requirements of §1.6.6.4 of the San Marcos <br />Land Development Code as security for completion of the Public Improvements <br />subsequent to approval of the final plat of the Marlton Estates Subdivision. Developer, at <br />its discretion, may also require payment and performance bonds from the contractor <br />selected by Developer to complete the Public Improvements. <br />2. A revised Exhibit "A" attached hereto, which shows a total bid price for construction <br />of the public improvements in the amount of $337,374.68 including bonds and insurance, <br />supercedes and replaces the Exhibit "A" attached to the Development Agreement. <br />3. All other terms of the Development Agreement shall remain in effect except as <br />modified by this First Amendment.