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JUN-17-97 TUE 16 :32 TOWN OF WINDSOR 6088462328 P. 06 - 5 - (D) Upon completion of construction and submittal to the Town Engineer of proof of payment to contractors, an amount of at least 15 percent of the original security shall be retained as security for an 12 month guarantee period following completion. The security following completion shall be held to guarantee all required improvements against defects in workmanship and materials. If any defects appear during the period of the guarantee, the Town shall notify the Developer who shall, at its expense, install replacements or perform acceptable repairs. In the event that the Developer fails to install the required replacements or perform the repairs, the Town shall do so, deduct the cost thereof from the security and recover any deficiency from Developer by a special charge on the Subject Realty pursuant to Wisconsin Statute. Unless defects have appeared and have not been repaired, the Town will release the security to the Developer upon expiration of the guarantee period. 10. Building Permit. The Town shall not issue any building permit for construction on the proposed CSM lot or Lots 22 or 23 prior to execution and recording of Attachment C and the Memorandum of this Agreement, and Developer has deposited the security as described herein. Developer shall comply in all respects to the Town's Building Code and other construction regulations of the State of Wisconsin or Dane County,as may be applicable. Any building or occupancy permit issued is conditioned upon Developer maintaining the temporary Duraform Lane access set forth in paragraph 5(A),including snow removal and any necessary regrading,to permit safe access of emergency vehicles to serve the development of the Subject Realty. The Town shall post the temporary Duraform Lane to restrict access to authorized emergency vehicles only. 11. Miscellaneous Provisions. The Developer represents that: (A) It has attained any and all easements or rights-of-way necessary to complete the improvements; (B) It is financially responsible for its liability for all losses, claims, liabilities, expenses and costs arising from damages to property or injuries to person occurring in connection with the making of improvements, including any vicarious liability for its agents or assigns; (C) It shall indemnify and hold the Town harmless from any and all claims, costs, expenses and fees,including,but not limited to,reasonable attorneys'and other consultants' fees, and damages to any person or property, directly or indirectly arising out of or in connection with the construction of the improvements, including any vicarious liability for the Developer's agents or assigns. The indemnification provided for in this paragraph shall continue in full force and effect until the end of the guarantee period; - (D) It is the lawful owner and is now lawfully seized and possessed of the real estate described as the Subject Realty; 970121-510-11009/k k Y/cj m Dcvclop.,kgr