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<br />D :nt 9/24/87 (#20) <br /> <br />construction of all improvements designated or mentioned in <br />said agreement, within the time therein specified, the <br />amount of said security to be One Million Five Hundred <br />Thousand and No/100 ($1,500,000.00); and shall also furnish <br />to City and file with the City Clerk, a good and sufficient <br />securi ty in a form subject to the approval of the City <br />Attorney securing the payment by Owners 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 Owners, the amount of said <br />security to be One Million Five Hundred Thousand and No/100 <br />Dollars ($1,500,000.00). Said Owners 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 Owners 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, Owners 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 Owners of all maintenance work, <br />the amount of said security to be One Hundred Fifty Thousand <br />and No/100 Dollars ($150,000.00). 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, Owners shall deposit Fifty-two Thousand Nine <br />Hundred Fifty and No/lOO Dollars ($52,950.00) 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 OWners. <br />The Owners understand and agree that the amount of deposit <br />is an estimate and agree to pay any additional amount for <br />plan check and inspection services provided by City within <br />ten (10) days after billing by the City Collector. <br /> <br />(e) Before the release of said final map by City for <br />recordation, OWners 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 />2. Those certain plans entitled "Improvement Plans for <br /> <br />Sandpiper Lagoon Unit No.1" and those certain specifications <br /> <br />entitled <br /> <br />"Technical <br /> <br />Specifications <br /> <br />for <br /> <br />Site <br /> <br />Improvements, <br /> <br />2 <br />