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<br />appurtenances, and improvements necessary as reasonably determined by the City <br /> <br />Engineer, <br /> <br />Engineering <br /> <br />and <br /> <br />Construction <br /> <br />to <br /> <br />complete <br /> <br />the <br /> <br />aforementioned <br /> <br />improvements. <br /> <br />2. <br /> <br />Security. Owner shall, prior to the commencement of any work on the <br /> <br />Improvements, furnish to City and file with the City Clerk a bond or instrument of credit <br /> <br />of the kind described in Section 66499, et seq., of the Government Code, securing the <br /> <br />faithful performance of all work and the construction of the Improvements mentioned in <br /> <br />this Agreement within the time herein specified. The amount of said security shall be <br /> <br />One Hundred Seventy Three Thousand and No/100 Dollars ($173,000 .00). Owner <br /> <br />shall likewise, prior to the commencement of any work on the Improvements, furnish <br /> <br />and file with the City Clerk a bond, deposit, or instrument of credit of the kind described <br /> <br />in Sections 66499, et seq., of the Government Code securing the payment by Owner of <br /> <br />all bills for labor and materials incurred in the construction of the Improvements and the <br /> <br />doing of all other work herein agreed to be done by Owner, with respect to the <br /> <br />Improvements. The amount of said security shall be One Hundred Seventy Three <br /> <br />Thousand and No/100 Dollars ($173,000.00). <br /> <br />The aforementioned security shall <br /> <br />include, in addition to the principal amounts, a guarantee of the payment of costs and <br /> <br />reasonable expenses and fees, including reasonable attorneys' fees, incurred by City in <br /> <br />the event of successful enforcement of such security. All bonds shall be issued by a <br /> <br />corporate surety admitted in the State of California. Bonds or instruments of credit shall <br /> <br />be furnished and filed by the Owner. <br /> <br />3. Hold Harmless. Owner shall protect, indemnify, and hold harmless the City, <br /> <br />its Council, boards, commissions, officers, agents, and employees, from and against <br /> <br />AttyAgr/2005.061 <br />081105 <br /> <br />3 <br />