RecD00 2000-116763 - Laserfiche WebLink

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relocation of existing utilities, complete (f) (g) site lighting, complete and all other work, improvements, or construction required by or mentioned in the above-mentioned plans and specifications, conditions of permits and all construction, appurtenances, and improvements necessary as reasonably determined by the City Engineer, Engineering and Construction to complete the aforementioned improvements. 2. Security. Ground Lessee shall. prior to the commencement of any construction of the Improvements, furnish to City and file with the City Clerk a bond or instrument of credit of the kind described in Section 66499, et seq., of the Government Code, securing the faithful performance of all work and the construction of the Improvements mentioned in this Agreement within the time herein specified. The amount of said security shall be Five Hundred Thousand and No/100 Dollars ($500,000.00). Ground Lessee shall likewise, prior to the commencement of any construction of the Improvements, furnish and file with the City Clerk a bond, deposit, or instrument of credit of the kind described in Sections 66499, et seq., of the Government Code securing the payment by Ground Lessee of all bills for labor and materials incurred in the construction of the Improvements and the doing of all other work herein agreed to be done by Ground Lessee, with respect to the Improvements. The amount of said security shall be Five Hundred Thousand and No/100 Dollars ($500,000.00). The aforementioned security shall include, in addition to the principal amounts, a F: \s ha red\Redwood\Cou n ci I Agmt-375 FXS:ep 07/27/00, 08/02/00R, 08/14/00RR 3 111111111111111111111111111111111111111111111111111111I 2000-116763 09/20/2000 11 :24A AG Page: 4 of 14