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file with the City Clerk, a bond or deposit securing the payment by Owner of all <br />bills for labor and materials incurred in the construction of any and all said <br />improvements, and the doing of all other work therein agreed to be done by <br />Owner, in the amount of One Hundred Twenty Thousand Dollars ($120,000). <br />Owner shall have prepared and delivered to City complete "as built" plans for <br />said improvements prior to the release of said bond or deposit. <br /> <br /> (b) Owner shall deposit Nine Thousand Two Hundred Ninety-seven <br /> Dollars .($9,297) for plan checking, engineering, inspection, laboratory and field <br /> testing, water supply, and all other applicable fees and charges. Any part of the <br /> deposit not utilized by City for payment of its services shall be returned to <br /> Owner. Owner understands and agrees that the amount of said deposit is an <br /> estimate and agrees to pay any additional amount for the aforesaid services <br /> provided by City within ten (10) days after billing by the City Collector. <br /> <br /> (c) Before the release of the agreement to Owner by City, Owner shall <br /> furnish to the City and file with the City Clerk, certificates and policies of public <br /> liability and property damage insurance as required by the above-described <br /> agreement. <br /> <br /> 2. Before the release of said bonds or deposit described in paragraph <br /> l(a), above, by City, Owner shall undertake to guarantee for one (1) year the <br /> workmanship and materials of all work and construction of all improvements <br /> designated or mentioned in said agreement. As a condition precedent to City's <br /> acceptance of any of the Improvements which are the subject of the agreement, <br /> <br /> F:~shared\Redwood\Council\ 2 <br /> Reso-218 <br /> FXS:djk <br /> 06/05/97 <br /> <br /> <br />