2024-09-25 C&J Coupe Exhibit List, Exhibits 1-5 (PL-BOA-2024-000105)

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3. OCEANSIDE shall further maintain any drainage system required by the County, as shown on construction plans approved by the COUNTY, until this Agreement is terminated pursuant to paragraph 5 below, after which termination, the COUNTY shall be solely responsible for the maintenance thereof, or until such time that the parties may mutually agree to be acceptable. 4. In order to secure the performance of the above maintenance obligations after the COUNTY's acceptance of dedication of the roadways, OCEANSIDE shall tender to the COUNTY a surety bond or other security acceptable to the COUNTY, which shall be effective for a period of five (5) years after the acceptance of dedication of the roadways. The parties agree that the face value of the surety bond or other acceptable security shall be the approximate cost of converting the road a\ (including costs relating to planning, design, engineering, and construction) to standards under which the COUNTY would assume the obligation of total maintenance of all of the roadway improvements in the event that OCEANSIDE defaults in its maintenance obligations. The parties agree that the face value of the surety bond or other acceptable security shall be ONE MILLION SIX HUNDRED THIRTY-FIVE THOUSAND AND NO/100 DOLLARS ($1,635,000.00). No later than sixty(60) days prior to the end of the initial five-year period, pursuant to OCEANSIDE's written request to the COUNTY, the parties shall determine whether such security should be renewed to secure OCEANSIDE's ongoing maintenance obligations or whether there are other assurances available to secure Oceanside's long-term maintenance obligations. If it is determined that further security is required to secure the maintenance obligations, the face value of such security shall be based on a revised cost estimate which reflects current costs and shall be subject to the approval of the Department of Public Works. 3