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<br />~o, ,,3 <br /> <br />regulations of said City, and such other improvements designated or mentioned in said <br /> <br />Agreement. <br /> <br />b) Before the release of said final map by City for recordation, Owner shall <br /> <br />furnish to City and file with the City Clerk a bond or deposit securing the faithful <br /> <br />performance of said Owner of all work and construction of all improvements designated <br /> <br />or mentioned in said Agreement, within the time therein specified, in the amount of <br /> <br />Seven Million Eight Hundred Thousand and No/100 Dollars ($7,800,000.00), and Owner <br /> <br />shall also furnish to City and file with the City Clerk, a bond or deposit securing the <br /> <br />payment by Owner of all bills for labor and materials incurred in the construction of any <br /> <br />and all said improvements, and the doing of all other work therein agreed to be done by <br /> <br />Owner, in the amount of Seven Million Eight Hundred Thousand and No/100 Dollars <br /> <br />($7,800,000.00). <br /> <br />Owner shall have prepared complete "as-built" plans for said <br /> <br />improvements prior to the release of said bond or deposit. <br /> <br />c) Before the release of said final map by City for recordation, Owner shall <br /> <br />undertake to guarantee for one (1) year the workmanship and materials of all work and <br /> <br />construction of all improvements designated or mentioned in said Agreement. After the <br /> <br />release of said final map but before acceptance of the improvements by City, Owner <br /> <br />shall furnish to City and file with the City Clerk a bond or deposit securing the faithful <br /> <br />performance by Owner of all such maintenance work, in the amount of Seven Hundred <br /> <br />Eighty Thousand and No/100 Dollars ($780,000.00). Said bond or deposit shall be <br /> <br />effective for a period of one (1) year after acceptance of the improvements by City's <br /> <br />Council. <br /> <br />d) Before the release of said final map by City for recordation, Owner shall <br /> <br />deposit Three Hundred Fifteen Thousand Two Hundred and No/100 Dollars <br />-2- <br /> <br />SH/RWC/Council <br />RESO.906.doc <br />FXS/fs <br /> <br />.-...-... "'~""T' <br />