RecD00 2000-116764 - Laserfiche WebLink

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(c) Ground Lessee shall deposit Thirty-five Thousand and No/100 Dollars ($35,000.00) for design and construction of the right-turn lane on Redwood Shores Parkway. Final design and construction costs will be determined upon completion of construction. (d) Upon execution of the Agreement by Ground Lessee by City, Ground Lessee shall furnish to City and file with the City Clerk, certificates and policies of public liability and property damage insurance as required by the above- described agreement. 2. Before the release of the bonds or deposit described in paragraph 1 (a) above by City, Ground Lessee shall undertake to guarantee for one (1) year the workmanship and materials of all work and construction of all improvements designated or mentioned in said Agreement. As a condition precedent to City's acceptance of any of the Improvements which are the subject of the Agreement, Ground Lessee shall furnish to City and file with the City Clerk a bond or deposit securing the faithful performance by Ground Lessee of all such maintenance work, in the amount of Fifty Thousand and No/100 Dollars ($50,000.00). Said bond or deposit shall be effective for a period of one (1) year after acceptance of the Improvements by City's Council. 3. Those certain plans entitled, "Improvement Plans - Towers @ Shores Center", as well as the City's revised specifications entitled, "Engineering Standards of the City of Redwood City", adopted January 5, 1998 which plans and specifications are on file in the office of the City Engineer, Engineering and F: \shared\Redwood\Couneil\ Reso-954 FXS:ep 07/27100, 08/02/00R; 08/14/00RR 1111111111I 1111111111111 I111111111111I11111111111I11I11 ~~~~~~ ~f: r~ 764 13965