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<br />and all other work, improvements, or construction required by or mentioned in the <br /> <br />abovementioned plans and specifications, conditions of permits and all construction, <br /> <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 Two Million <br /> <br />Five Hundred Seventy-two Thousand and No/100 Dollars ($2,572,000.00). <br /> <br />Owner shall <br /> <br />likewise, before the release of said map, furnish and file with the City Clerk a bond or deposit <br /> <br />respect to the Improvements. The amount of said security shall be Two Million Five Hundred <br /> <br /> <br />securing the payment by Owner of all bills for labor and materials incurred in the construction of <br /> <br />the Improvements and the doing of all other work herein agreed to be done by Owner, with <br /> <br />Seventy-two Thousand and No/100 Dollars ($2,572,000.00). 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 the <br /> <br />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 a <br /> <br />-3- <br /> <br />Agmt-201 <br />DES:djk <br />F :/S hared/R edwood/Co unci II Ag mt <br />09/15/98 <br />09/21/98R <br />