Laserfiche WebLink
�'��� 2. Securi . Owner shall, prior to the commencement of any work of <br /> improvement on the Improvements, furnish to City and file with the City Clerk a bond or <br /> instrument of credit of the kind described in Section 66499, et seq., of the Government <br /> Code, securing the faithful performance of all work and the construction of the <br /> Improvements mentioned in this Agreement within the time herein specified. The <br /> amount of said security shall be Five Hundred Thousand and No/100 Dollars <br /> ($500,000.00). Owner shall likewise, prior to the commencement of any work of <br /> improvement on the Improvements, furnish and file with the City Clerk a bond, deposit, <br /> or instrument of credit of the kind described in Sections 66499, et seq., of the <br /> Government Code securing the payment by Owner of all bills for labor and materials <br /> incurred in the construction of the Improvements and the doing of all other work herein <br /> agreed to be done by Owner, with respect to the Improvements. The amount of said <br /> security shall be Five Hundred Thousand and No/100 Dollars ($500,000.00). The <br /> aforementioned security shall include, in addition to the principal amounts, a guarantee <br /> of the payment of costs and reasonable expenses and fees, including reasonable <br /> attorneys' fees, incurred by City in the event of successful enforcement of such security. <br /> All bonds shall be issued by a corporate surety admitted in the State of California. <br /> Bonds or instruments of credit may be furnished and fiied by Owner's contractor. <br /> 3. Hold Harmless. Owner shall protect, indemnify, and hold harmless the City, <br /> its Council, boards, commissions, officers, agents, and employees, from and against any <br /> and all liability, losses, damages, claims, causes of action, or actions arising out of any <br /> accident, occurrence or incident resulting from, or alleged to have resulted from the <br /> construction of any of the Improvements by Owner, the negligent performance of any <br /> contractual responsibility of Owner, or any negligent action of Owner undertaken by <br /> Owner as a result of, or in the furtherance of, such construction or other responsibility of <br /> F:�shared�Redwood�Council 3 <br /> Agmt-375 <br /> FXS:ep <br /> 07/27/00, 08/02/OOR <br />