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<br />DES:d;~ 01/24/97 <br /> <br />(029a/42) <br /> <br />the workmanship and materials of all work and construction <br /> <br />of <br /> <br />all <br /> <br />improvements <br /> <br />designated <br /> <br />or <br /> <br />mentioned <br /> <br />in <br /> <br />said <br /> <br />Agreement. <br /> <br />Before the release of said bonds by City, Owner <br /> <br />shall furnish to City and file with the City Clerk a bond or <br /> <br />deposit <br /> <br />securing <br /> <br />the <br /> <br />faithful <br /> <br />performance <br /> <br />by <br /> <br />Owner <br /> <br />of <br /> <br />Owner's guarantee and warranty of the work, in the amount of <br /> <br />Eighty-eight Thousand and No/100 Dollars ($88,000.00). <br /> <br />Said <br /> <br />bond or deposit shall be effective for a period of one <br /> <br />( 1) <br /> <br />year after acceptance of the improvements by City's Council. <br /> <br />(d) <br /> <br />Before the release of said final map by City for <br /> <br />recordation, Owner shall deposit Thirty-eight Thousand Six <br /> <br />Hundred and No/100 Dollars <br /> <br />($38,600.00) <br /> <br />for plan checking, <br /> <br />engineering, inspection, laboratory and field testing, water <br /> <br />of <br /> <br />the <br /> <br />deposit <br /> <br />not <br /> <br />utilized by <br /> <br />City <br /> <br />for <br /> <br />payment <br /> <br />of <br /> <br />its <br /> <br /> <br />supply, and all other applicable fees and charges. <br /> <br />Any part <br /> <br />services shall be returned to Owner. <br /> <br />Owner understands and <br /> <br />agrees that the amount of said deposit is an estimate and <br /> <br />agrees <br /> <br />to <br /> <br />pay <br /> <br />any <br /> <br />additional <br /> <br />amount <br /> <br />for <br /> <br />the <br /> <br />aforesaid <br /> <br />services provided by City within ten (10) days after billing <br /> <br />by the City Collector. <br /> <br />(e) <br /> <br />Before the release of said final map by City for <br /> <br />recordation, Owner shall furnish to the City and file with <br /> <br />the <br /> <br />City <br /> <br />Clerk, <br /> <br />certificates <br /> <br />and <br /> <br />policies <br /> <br />of <br /> <br />public <br /> <br />liability and property damage insurance as required by the <br /> <br />above-described Agreement. <br /> <br />3 <br />