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therein specified, in the amount of Two Million Eight Hundred Fifty -two Thousand <br />and No /100 Dollars ($2,852,000.00) and Owner shall also furnish to City and file <br />with the City Clerk a bond or deposit securing the payment by Owner of all bills <br />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 Two Million Eight Hundred Fifty -two Thousand and <br />no /100 Dollars ($2,852,000.00). Owner shall have prepared and delivered to City <br />complete "as built' plans for said improvements prior to the release of said cash <br />deposit. <br />(b) Owner shall deposit Seventy -eight Thousand Seven Hundred and <br />No /100 Dollars ($78,700.00) for plan checking, engineering, inspection, <br />laboratory and field testing, water supply, and all other applicable fees and <br />charges. Any part of the deposit not utilized by City for payment of its services <br />shall be returned to Owner. Owner understands and agrees that the amount of <br />said deposit is an estimate and agrees to pay any additional amount for the <br />aforesaid services provided by City within ten (10) days after billing by the City <br />Collector. <br />(c) Upon execution of the Agreement by Owner and City, Owner shall <br />furnish to 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 />Reso -1009 2 <br />F:\sh\sh\\Redwood\CoundI <br />FXS:rg <br />10/03/00 <br />14055 <br />