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08/02/2007 09:44 2094889324 SJCO PERMITS <br /> shall notify the property owner 48 hours prior to commencing work, <br /> 1.220 Faithful Performance_Secur_iiv <br /> The County may require security for performance on projects without a <br /> subdivision agreement as follows: <br /> Faithful,Performance Securii : Applicants shall provide the County with <br /> an acceptable irrevocable letter of credit, or other suitable financial <br /> guarantee acceptable to the.County from aUancial institution authorized <br /> to do and doing business in the State of California, valid until one year <br /> after the project is accepted by the County. The security shall be in the <br /> amount of 100% of the County approved engineer's estimate. <br /> The purpose of the Faithful Performance Security is to provide protection <br /> to the County for any expenses it may incur as a result of: <br /> 1. Failure by the Contractor to complete the installation. <br /> 2.. Necessary repairs caused by poor installation techniques. <br /> 3. Necessary repairs caused by the installation of defective material. <br /> 4. Failure by the Contractor to perform in accordance with the approved <br /> plans and specifications. <br /> 5. Material liens against the County. <br /> 1,221Guarant a of Workmanship Material4_AO Equi meat <br /> The Applicant-shall,guarantee that the project installed by the Contractor (or <br /> Applicant) be free from any and all defects in materials and workmanship for a <br /> Period of one year after final acceptance by the County. This guarantee shall <br /> be secured by a bond or letter of credit in an amount of at least 20% of Design <br /> Engineer's approved construction cost estimate, or other amount determined by <br /> the County. The County may make any necessary repairs and charge the <br /> security in the event the developer or Contractor fail to correct the defects. <br /> Contractors performing work for the applicant shall be competent with adequate <br /> manpower and equipment to accomplish the work in accordance with the <br /> approved pians and specifications and licensed in the State of California. A <br /> representative of the Applicant and the Contractor shall be present at the job <br /> site whenever work is being.conducted by subcontractors. <br /> 13 <br />