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<br />CES:djm ~'/18/90 (012/#27) <br /> <br />said agreement, all improvements required of Owner under the <br /> <br />provisions of Chapter 30 of the Code of the City of Redwood <br /> <br /> <br />Ci ty, being the subdivision regulations of said City, and <br /> <br /> <br />such other improvements designated or mentioned in said <br /> <br /> <br />agreement. <br /> <br />(b) Before the release of said final map by City for <br /> <br />recordation, OWner shall furnish to City and file with the <br /> <br /> <br />City Clerk a good and sufficient security in a form subject <br /> <br /> <br />to the approval of the City Attorney, securing the faithful <br /> <br /> <br />performance of said Owner of all work and construction of <br /> <br /> <br />all improvements designated or mentioned in said agreement, <br /> <br />within the time therein specified, the amount of said <br /> <br /> <br />security to be Two Hundred Ninety-Four Thousand and No/100 <br /> <br />Dollars ($294,000.00); and shall also furnish to City and <br /> <br /> <br />file with the City Clerk, a good and sufficient security in <br /> <br /> <br />a form subject to the approval of the City Attorney securing <br /> <br />the payment by OWner of all bills for labor and materials <br /> <br />incurred in the construction of any and all said <br /> <br /> <br />improvements, and the doing of all other work therein agreed <br /> <br /> <br />to be done by Owner, the amount of said security to be Two <br /> <br />Hundred Ninety-Four Thousand and No/I00 Dollars <br /> <br />($294,000.00). Owner may furnish substitute security in <br /> <br />conformance with Section 66499 et. seq. of the Government <br /> <br /> <br />Code, under the provisions of the Agreement for Improvement <br /> <br />of Promontory Point at Shorebird Island Subdivision. Owner <br /> <br />shall have prepared complete "as built" plans prior to the <br /> <br /> <br />release of the above described security. <br /> <br />2 <br /> <br />11212 <br />