Res83 9466 - Laserfiche WebLink

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specifications are finally approved by and filed in the office of the Director of Public Works. 4. That, prior to the release of said final map by City for recordation, the owner or subdivider shall furnish to the City and file with the City Clerk a good and sufficient security in a form to be approved by the City Attorney, securing the faithful performance of said owner or subdivider of all work and the construction of all improvements designated or mentioned in said agreement, and within the time specified, the amount of said security to be One Mill ion One Hundred Twelve Thousand Four Hundred Sixty-Four and ND/100 Dollars ($1,112,464.00) and also a good and sufficient security in the form to be approved by the City Attorney securing the payment by said owner or subdivider 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 the said owner or subdivider, the amount of said security to be One Million One Hundred Twelve Thousand Four ~undred Sixty-Four and NO/100 Dollars ($1,112,464.00). 5. That, prior to the release of said final map by City for recordation, the owner or subdivider shall furnish to the City and file with the City Clerk certificates or policies of public liability and property damage insurance as required by the above mentioned agreement entitled "Agreement for the Improvement of Shores Center Unit No.3 Subdivision.1I 6. That, prior to the release of said final map by City for recordation, the owner or subdivider shall deposit with City the sum of Forty-Four Thousand Two Hundred Thirty and No/100 Dollars ($44,230.00), for all engineering, inspection, plan check, laboratory and field testing, construction, and other services furnished or to be furnished by City in connection with such subdivision. 7. That, prior to release of said final map by City for recordation, the owner subdivider shall make arrangements satisfactory to the Director of Public Works and the City Attorney to ensure compliance with the tentative map condition for such subdivision requiring the owner subdivider to participate in and pay Fifty-Five Thousand and No/100 Dollars ($55,000.00) towards the cost of two legs of a traffic signal system at the intersection of Redwood Shores Parkway at Pico and Marriott; provided, however, that owner subdivider's obligation for such payment shall be proportionately reduced in the event City receives FAU funds for such project. and BE IT FURTHER RESOLVED: That those certain plans enti tIed II Construction Drawings for Shores Center Unit No. 3 Subdivision,1I and those certain specifications entitled IlTechnical Specifications for Shores Center Unit No.3 Subdivision,1I when and as finally approved by and filed in the office of the Director of Public Works, shall 2 9466