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<br />appurtenances and improvements necessary as reasonable determined by the Manager, <br /> <br />Engineering and Construction to complete the aforementioned improvements, both within and <br /> <br />outside of the abovementioned subdivision. <br /> <br />2. <br /> <br />SECURITY. <br /> <br />Owner shall, before the release of said final map by City for <br /> <br />recordation, furnish to City and file with the City Clerk a bond or deposit securing the faithful <br /> <br />performance by Owner of all work and the construction of the Improvements mentioned in this <br /> <br />agreement within the time herein specified. The amount of said security shall be One Hundred <br /> <br />Thousand and No/100 Dollars ($100,000.00). Owner shall likewise, before the release of said <br /> <br />map, furnish and file with the City Clerk a bond or deposit securing the payment by Owner of <br /> <br />all bills for labor and materials incurred in the construction of the Improvements and the doing <br /> <br />of all other work herein agreed to be done by Owner, with respect to the Improvements. The <br /> <br />amount of said security shall be One Hundred Thousand and No/100 Dollars ($100,000.00). <br /> <br />The aforementioned security shall include, in addition to the principal amounts, a guarantee of <br /> <br />the payment of costs and reasonable expenses and fees, including reasonable attorneys fees, <br /> <br />incurred by City in the event of successful enforcement of such security. <br /> <br />3. <br /> <br />HOLD HARMLESS. Owner shall protect, indemnify, and hold harmless the <br /> <br />City, its Council, boards, commissions, officers, agents, and employees, from and against any <br /> <br />and all liability, losses, damages, claims, causes of action, or actions arising out of any <br /> <br />accident, occurrence or incident resulting from, or alleged to have resulted from the <br /> <br />construction of any of the Improvements by Owner, the negligent performance of any <br /> <br />contractual responsibility of Owner, or any negligent action of Owner undertaken by Owner as <br /> <br />a result of, or in the furtherance of, such construction or other responsibility of Owner. Owner <br /> <br />shall also protect, indemnify and hold harmless the above parties for any liability from and <br /> <br />against claims and liability based upon the use of any patent or patented article by Owner in <br /> <br />the construction of said work or Improvements. Owner's duty to defend and hold harmless <br /> <br />-3- <br /> <br />Agreement - Valota Estates <br />11f7197 <br />