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2. SECURITY. Owner shall, before the release ot o»aid final map by City for recordation, furnish to City and file with the City Clerk a certificate of deposit securing the faithful performance and labor and materials by Owner of all work and the construction of the Improvements mentioned in this Agreement within the time herein specified. The amount of said security shall be Two Hundred Eighty Five Four Hundred and No/100 Dollars ($285,400.00). The aforementioned security shall include, in addition to the principal amounts, a guarantee of the payment of costs and reasonable expenses and fees, including reasonable attorneys fees, incurred by City in the event of successful enforcement of such security. 3. HOLD HARMLESS. Owner shall protect, indemnify, and hold harmless the City, its Council, boards, commissions, officers, agents, and employees, from and against any and all liability, losses, damages, claims, causes of action, or actions arising out of any accident, occurrence or incident resulting from, or alleged to have resulted from the construction of any of the Improvements by Owner, the negligent performance of any contractual responsibility of Owner, or any negligent action of Owner undertaken by Owner as a result of, or in the furtherance of, such construction or other responsibility of Owner, Owner shall also protect, indemnify and hold harmless the above parties for any liability from and against claims and liability based upon the use of any patent or patented article by Owner in the construction of said work or Improvements. Owner's duty to defend and hold harmless shall include the responsibility to provide legal representation, the selection of whom shall be subject to City's approval. 4. INSURANCE. Owner shall, before the release of said final map by City for recordation, obtain and maintain in full force and effect during the term of this Agreement, at Owner's own expense and risk, a general comprehensive liability insurance policy, and further, shall furnish evidence of such insurance by filing copies of the declaration page or information page and a certificate of insurance with the City Clerk, which copies shall be accompanied by such endorsements as may be necessary to show compliance with all of the requirements of Agmt-366 f/shlshRC/Council FXS:rg 05120/001 3 ,... S «J ta. m~~ S.;~ 100 0... S~ ~ S~~ S~æ N°oØ sa: - - - - - - - - - - - - - - - - - - - - - -