Laserfiche WebLink
<br />shall complete the Grading, the Improvements, and the Related Work, subject to <br /> <br />time extensions allowable under Paragraph 11, on or before March 1, 1999. <br /> <br />2. <br /> <br />SECURITY. Before the release of the Final Map by City for recordation, <br /> <br />Owner shall furnish to City and file with the City Clerk the following bonds or <br /> <br />deposits, at the option of and subject to the approval of City, meeting the <br /> <br />requirements of Section 66499(a)(1) or (a)(2) of the Government Code (the <br /> <br />"Security"): <br /> <br />,- <br /> <br />a) <br /> <br />In the amount of $1,940,000 securing the faithful performance by <br /> <br />Owner of its obligations to perform the grading and construct the <br /> <br />Improvements and Related Work within the time specified in this <br /> <br />Agreement; and <br /> <br />b) <br /> <br />In the amount of $1,940,000 securing the faithful performance by <br /> <br />Owner of its obligation to furnish and pay for the Labor and Materials. <br /> <br />The security required under this Paragraph 2 must include, in addition to the <br /> <br />principal amounts, a guarantee of the payment of costs and reasonable expenses and <br /> <br />fees, including reasonable attorneys' fees, incurred by City in the event of successful <br /> <br />enforcement of such security. <br /> <br />3. <br /> <br />HOLD HARMLESS. Owner shall protect, indemnify and hold <br /> <br />harmless City, its Council, boards, commissions, officers, agents and employees <br /> <br />(collectively, the "Indemnitees") from and against any and all liability, losses, <br /> <br />damages, claims, causes of action or actions arising out of any accident, occurrence or <br /> <br />incident resulting from, or alleged to have resulted from the Grading, the <br /> <br />construction of any of the Improvements and/or Related Work by Owner, its <br /> <br />-3- <br /> <br />