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<br /> DES:djk 11/07/96 (007/72) <br /> specified. The amount of said security shall be Three Hundred <br /> Ninety-three Thousand and No/lOO Dollars ($393,000.00) . Owner <br /> shall likewise, before the release of said map, furnish and file <br /> with the City Clerk a bond or deposit securing the payment by <br /> Owner of all bills for labor and materials incurred in the <br /> construction of the Improvements and the doing of all other work <br /> herein agreed to be done by Owner, with respect to the <br /> Improvements. The amount of said security shall be Three Hundred <br /> Ninety-three Thousand and No/lOO Dollars ($393,000.00) . The <br /> aforementioned security shall include, in addition to the <br /> principal amounts, a guarantee of the payment of costs and <br /> reasonable expenses and fees, including reasonable attorneys <br /> fees, incurred by City in the event of successful enforcement of <br /> such security. <br /> 3. HOLD HARMLESS. Owner shall protect, indemnify, and <br /> hold harmless the City, its Council, boards, commissions, <br /> officers, agents, and employees, from and against any and all <br /> liability, losses, damages, claims, causes of action, or actions <br /> arising out of any accident, occurrence or incident resulting <br /> from, or alleged to have resulted from the construction of any of <br /> the Improvements by Owner, the negligent performance of any <br /> contractual responsibility of Owner, or any negligent action of <br /> Owner undertaken by Owner as a result of, or in the furtherance <br /> of, such construction or other responsibility of Owner. Owner <br /> shall also protect, indemnify and hold harmless the above parties <br /> for any liability from and against claims and liability, based <br /> , <br /> - 4 <br /> -' <br /> - <br />