(bo) As security for the due and proper performance of all the covenants and agreements in this Contract contained the Developer covenants and agrees to deposit with the Municipality by Letter of Credit the sum of One Hundred Forty Thousand Seven Hundred Twenty ($140,720, 00) Dollars. ,

{e) “whe Developer further covenants and agrees to contribute forchvith to the Municipality the sum of One Hundred Thirty Seven Thousand Thirty ($137,030.00) Dollars, being the net total of those amounts set out in Section 2 of Schedule "D" hereto required to facilitate servicing of the development proposed herein and which che Municipality covenants and agrees to apply to the cost of those works and services set out in the said Section 2 of Schedule "D" hereto.

(d) The Developer agrees that if the works specified herein ate not completed pursuant to the provisions of this section and the aforesaid Schedule "D", the Municipality may complete the works at the cost of the Developer and deduct from the depusic held by the Municipality the cost of such completion, and the balance of the deposit shall be returned ta the Developer, less any administration fees required. If there is insufficient money on deposit with the Municipality, then the Developer will pay such deficiency uw che Municipality iomedistely upon receipt of the Municipality's bill for completion, It is understood that the Municipality may do such work either by itself or by contractors employed by the Municipality. If the works are completed as herein provided, then the deposit, less administration fees, shall be returned to the Developer.

Upgrading of Public Works:

13. (a) The Developer covenants and agrees to apply for a building permit under the provisions of the "City of Port Coquitlam Building and Plumbing Code Administration By-law, 1974, No. 1298" and pay the requisite butlding permit and plumbing permit fees prescribed therein,

(b) The Developer further covenants and “agrees to pay te the Municipality the sum of $300.00 for each self~contained housing unit to be constructed by the development suthorized herein which said sum the City shall credit to the Waterworks Utility Capital Replacement Fund to assist in defraying the excessive costs incurred by the Municipality for improvenents “to the waterworks systen nade necessary by the increased :

population and service requirements created by the development authorized

herein, The total sum payable by the Developer to the City for the sixty~four

ponerse

-6-' self-contained housing units heréin authorized to be constructed {6 Nineteen

1 Thousand Two Hundred ($19,200.00) Dollars.

Deposit of Debris on Roads and Nuisances: i

14. The Developer covenants end agrees not to deposit any material or debris upon any roads during the construction of the said work and to continuously carry on the construction of whe said work in a geod and Proper workmanlike manner causing as Litete disturbance to neighbouring Properties as is reasonable under the circumstances. In the event that any material or debris should be deposited upon any road during the construction of the work or should the construction by the Developer constitute a nuisance to neighbouring properties of the work the Developer covenants and agrees that the Municipality may forthwith renove such material or debris or put right such nuisance at the expense of the Developer, the cost thereof to be determined by the Engineer. In the event that construction of the work ceases for any period of tine -n excess of thirty days the Developer covenants and agrees that the Municipality may. forthwith enter uoon the property and construc. thereon a solid board fence not greater than efght feet in height nor less than six feet in height surrounding the entire perimeter of the projece and that in so doing the Muntcipality accepts no responsibility for the suitability or adequacy of the said fence erected for the benefit of the said Developer and for which the Developer covenants and agrees to accept full responsibility and to save harmless the Munielpality fres each aad every action and claim which may be brought er arise as a result thereof, In the event that any invoice of the Municipality for the removal of such materfal or debris’ or construction of the fence shall remain unpaid after thirty days of receipt of the sane by the Developer the Municipaliry is authorized te deduct the amount of such invoice from the deposit referred to in Section 12 hereof,

Maintenance of Works by Developer:

15. The Developer covenants and agrees to: (a) Maintain all of the said works to be built pursuart to this Contract in complete repeiz for a period of one (1) year from the

completion thereof as certified by the Municipal Engineer,

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