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<br /> Stagecoach Road and Snyder Hill Drive, as further described on the construction plans for the <br /> Gardens of Willow Creek Subdivision approved by the City. <br /> 2. The Developer agrees that the Improvements will be constructed according to City <br /> specifications. <br /> 3. The Developer will act as Project Manager in the construction of the Improvements. <br /> 4. The Developer has provided the City with a copy of the bid tabulation sheet provided by <br /> its contractor, including an itemization of the cost difference for the oversizing of the water line. <br /> 5. The City agrees to pay to the Developer $27,348.00, being the difference between the cost <br /> of constructing an 8" diameter water line and the cost of constructing the Improvements. This <br /> payment will be made in a lump sum within 30 days after written acceptance of the Improvements by <br /> the City. <br /> 6. The City agrees to inspect the construction of the Improvements as construction <br /> progresses, to inspect the Improvements upon completion of construction, and to accept the <br /> Improvements upon the passing of final inspection. <br /> 7. The Developer agrees to complete, or cause the completion of the Improvements not later <br /> than October 31, 1998. <br /> 8. The City is scheduled to begin construction in August of 1998 on the Centerpoint <br /> Transmission Main Project, into which the Improvements contemplated herein will merge. The City <br /> reserves the right to construct the Improvements itself should the City's construction schedule permit <br /> the City to complete the Improvements before the Developer. The Developer agrees to reimburse <br /> the City $12,057.00 for the cost of the 8" line within 30 days of invoice by the City, should the City <br /> construct the Improvements. <br /> 2 <br />