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<br />DAS:sh 7/21/87 <br /> <br />(#20) <br /> <br />security in a form subject to the approval of the City <br />Attorney securing the payment by Owner of all bills for <br />labor and materials incurred in the construction of any and <br />all said improvements, and the doing of all other work <br />therein agreed to be done by OWner, the amount of said <br />security to be Four Hundred Twenty Thousand and No/100 <br />Dollars ($420,000.00). Said Owner shall have prepared <br />complete "as built" plans prior to the release of the <br />"faithful performance" and "labor and material" bonds <br />described herein. <br /> <br />(c) Before the release of said final map by City for <br />recordation, the Owner shall for one (1) year guarantee the <br />workmanship and materials of all work and construction of <br />all improvements designated or mentioned in said agreement. <br />After the release of said final map but before acceptance of <br />the improvements by City, OWner shall furnish to City and <br />file with the City Clerk a good and sufficient security in a <br />form subject to the approval of the City Attorney, securing <br />the faithful performance by Owner of all maintenance work, <br />the amount of said security to be Forty Two Thousand and <br />No/100 Dollars ($42,000.00). Said security shall be <br />effective for a period of one (1) year after acceptance of <br />the improvements by City's Council. <br /> <br />(d) Before the release of said final map by City for <br />recordation, Owner shall deposit Twenty Three Thousand Three <br />Hundred Eighty and No/100 Dollars ($23,380.00) for plan <br />checking, engineering, inspection, laboratory and field <br />testing, water supply, and all other applicable fees and <br />charges. Any part of the deposit not utilized by City for <br />payment of its services, shall be returned to the OWner. <br />The Owner understand and agree that the amount of deposit is <br />an estimate and agree to pay any additional amount for plan <br />check and inspection services provided by City wi thin ten <br />(10) days after billing by the City Collector. <br /> <br />(e) Before the release of said final map by City for <br />recordation, OWner shall furnish to the City and file with <br />the City Clerk, certificates and policies of public <br />liability and property damage insurance as required by the <br />above-described agreement. <br /> <br />and <br /> <br />2. Those certain plans entitled "Construction Drawings for <br /> <br />Sequoia Village Subdivision" and those certain specifications <br /> <br />entitled "City Standard Specifications 1974", which plans and <br /> <br />specifications are now on file in the office of the City Engineer <br /> <br />are hereby approved and adopted as the plans and specifications <br /> <br />2 <br />