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