RecD98 1998-046956 - Laserfiche WebLink

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or mentioned in said Agreement, within the time therein specified, in the amount of One Hundred Thousand and No/100 Dollar ($100,000.00), and Owner shall also furnish to City and file with the City Clerk, a bond or deposit securing the payment by Owner of all bills for labor and materials incurred in the construction of any and all said improvements, and the doing of all other work therein agreed to be done by Owner, in . the amount of One Hundred Thousand and No/100 Dollars ($100,000.00). Owner shall have prepared complete "as-built" plans for said improvements prior to the release of said bond or deposit. c) Before the release of said final map by City for recordation, Owner 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. After the release of said final map but before acceptance of the improvements by City, Owner shall furnish to City and file with the City Clerk a bond or deposit securing the faithful performance by Owner of all such maintenance work, in the amount of Ten Thousand and No/100 Dollars ($10,000.00). Said bond or deposit shall be effective for a period of one (1) year after acceptance of the improvements by City's Council. d) Before the release of said final map by City for recordation, Owner shall deposit Eight Thousand Seven Hundred and No/100 Dollars ($8,700.00) for plan checking, engineering, inspection, laboratory and field testing, water supply, and all other applicable fees and charges. Any part of the deposit not utilized by City for payment of its services shall be returned to Owner. Owner understands and agrees that the amount of said deposit is an estimate and agrees to pay any additional amount for the aforesaid services provided by City within ten (10) days after billing by the City Collector. -2- Resolution - Valota Estates 11f7197