RecD05 2005-191599 - Laserfiche WebLink

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9. SECURITY TO INSURE GUARANTEE. Owner agrees, as a condition precedent to City's acceptance of any of the Improvements which are the subject of this Agreement, to furnish and file with the City Clerk a bond or deposit in the amount of Forty Eight Thousand One Hundred and No/100 Dollars ($48,100.00) for all expressly conditioned Improvements to secure Owner's compliance with the provisions of Paragraph 8 hereof, for a period of one (1) year after final acceptance of the work done under this Agreement. 10. DEPOSIT FOR PLAN CHECK AND INSPECTION. Owner shall deposit with City the sum of Thirty Five Thousand Seven Hundred and No/100 Dollars ($35,700.00) ("Deposit"), less all amounts previously paid City by Owner for such services, to compensate City for all engineering, inspection, plan check, laboratory and field testing, construction, and other services furnished by City in connection with the Improvements for the said subdivision. Owner understands that the Deposit is an estimate and further agrees to pay to City the actual cost of providing such services, in accordance with the City's current fees. Owner agrees to complete payment of such additional sum or sums for the services provided by City, if any, within ten (10) days after billing by City of the additional sum to be paid and agrees that the amount payable shall be increased by ten percent (10%) in the event payment is not made within such ten (10) day period. Any part of the Deposit or such additional sum or sums not utilized by City shall be returned promptly to Owner. 11. IMMUNITY FROM ACTS OF GOD. Owner shall not be in default of any provision of this Agreement or subject to any penalty hereunder where timely Atty/Agr/2005.065 083005 9 sllibrary/agreementslsubdivision/Subdivision- Toyon Way