RecD98 1998-128976 - Laserfiche WebLink

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b) Before the release of said Parcel Map by City for recordation, Owner shall furnish to City and file with the City Clerk a bond or deposit securing the faithful performance of said Owner of all work and the construction of all improvements designated or described in said Agreement, within the time therein specified, in the amount of One Million Two Hundred Twenty Thousand and No/100 Dollars ($1,220,000.00); 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 Million Two Hundred Twenty Thousand and No/100 Dollars ($1,220,000.00). 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 improvement bonds by City, Owner shall undertake to guarantee for one {1) year the workmanship and materials of all work and construction of all improvements designated or described in said Agreement. Before the release of said bonds 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 One Hundred Twenty-two Thousand and No/100 Dollars ($122,000.00). 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 Parcel Map by City for recordation, Owner shall deposit Forty-six Thousand Forty and No/100 Dollars ($46,040.00) 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 -2- 13376 DES:mge F:/Sh\Sh\Redwood/Council\ Res0-434 6/17/98