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<br />DES:djy 11/07/96 <br /> <br />(007/72) <br /> <br />specified. <br /> <br />The amount of said security shall be Three Hundred <br /> <br />Ninety-three Thousand and No/100Dollars <br /> <br />($393,000.00) . <br /> <br />Owner <br /> <br />shall likewise, before the release of said map, furnish and file <br /> <br />wi th the City Clerk a bond or deposit securing the payment by <br /> <br />Owner <br /> <br />of <br /> <br />all <br /> <br />bills <br /> <br />for <br /> <br />labor <br /> <br />and materials <br /> <br />incurred <br /> <br />in <br /> <br />the <br /> <br />construction of the Improvements and the doing of all other work <br /> <br />herein <br /> <br />agreed <br /> <br />to <br /> <br />be <br /> <br />done <br /> <br />by <br /> <br />Owner, <br /> <br />with <br /> <br />respect <br /> <br />to <br /> <br />the <br /> <br />Improvements. The amount of said security shall be Three Hundred <br /> <br />Ninety-three <br /> <br />Thousand <br /> <br />and <br /> <br />No/100 <br /> <br />Dollars <br /> <br />($393,000.00) . <br /> <br />The <br /> <br />aforementioned <br /> <br />security <br /> <br />shall <br /> <br />include, <br /> <br />in <br /> <br />addition <br /> <br />to <br /> <br />the <br /> <br />principal <br /> <br />amounts, <br /> <br />a <br /> <br />guarantee <br /> <br />of <br /> <br />the <br /> <br />payment <br /> <br />of <br /> <br />costs <br /> <br />and <br /> <br />reasonable <br /> <br />expenses <br /> <br />and <br /> <br />fees, <br /> <br />including <br /> <br />reasonable <br /> <br />attorneys <br /> <br />3. <br /> <br />HOLD <br /> <br />HARMLESS. <br /> <br />Owner <br /> <br />shall <br /> <br />protect, <br /> <br />indemnify, <br /> <br />and <br /> <br /> <br />fees, incurred by City in the event of successful enforcement of <br /> <br />such security. <br /> <br />hold <br /> <br />harmless <br /> <br />the <br /> <br />City, <br /> <br />its <br /> <br />Council, <br /> <br />boards, <br /> <br />commissions, <br /> <br />officers, <br /> <br />agents, <br /> <br />and employees, <br /> <br />from and against any and all <br /> <br />liability, losses, damages, claims, causes of action, or actions <br /> <br />arising out of any accident, <br /> <br />occurrence or incident resulting <br /> <br />from, or alleged to have resulted from the construction of any of <br /> <br />the <br /> <br />Improvements <br /> <br />by <br /> <br />Owner, <br /> <br />the <br /> <br />negligent <br /> <br />performance <br /> <br />of <br /> <br />any <br /> <br />contractual responsibility of Owner, or any negligent action of <br /> <br />Owner undertaken by Owner as a result of, or in the furtherance <br /> <br />of, <br /> <br />such construction or other responsibility of Owner. <br /> <br />Owner <br /> <br />shall also protect, indemnify and hold harmless the above parties <br />for any liability from and against claims and liability based <br /> <br />4 <br />