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10/16/00 <br />therein specified, in the amount of Three Million Fifty -nine Thousand and No /100 <br />Dollars ($3,059,000.00) and Owner shall also furnish to City and file with the City <br />Clerk a bond or deposit securing the payment by Owner of all bills for labor and <br />materials incurred in the construction of any and all said improvements, and the <br />doing of all other work therein agreed to be done by Owner, in the amount of <br />Three Million Fifty -nine Thousand and no /100 Dollars ($3,059,000.00). Owner <br />shall have prepared and delivered to City complete "as built' plans for said <br />improvements prior to the release of said cash deposit. <br />(b) Owner shall deposit Eighty -two Thousand Six Hundred and No /100 <br />Dollars ($82,600.00) for plan checking, engineering, inspection, laboratory and <br />field testing, water supply, and all other applicable fees and charges. Any part of <br />the 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 />(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 />2. Before the release of cash deposit described in paragraph 1(a) above <br />by City, Owner shall undertake to guarantee for one (1) year the workmanship <br />Reso -1007 2 <br />F:\sh\sh\ \Redwood \Council <br />FXS:rg <br />10/03/00 <br />14056 <br />