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<br />Engineer to complete the aforementioned improvements, both within and outside of the <br /> <br />abovementioned subdivision. <br /> <br />2. SECURITY. Owner shall, before the release of the final map by City for <br /> <br />recordation, furnish to City and file with the City Clerk a bond or deposit securing the <br /> <br />faithful performance by Owner of all work and the construction of the Improvements <br /> <br />mentioned in this agreement within the time herein specified. The amount of said <br /> <br />security shall be Three Hundred Forty Five Thousand and No/100 Dollars <br /> <br />($345,000.00). Owner shall likewise, before the release of said map, furnish and file <br /> <br />with the City Clerk a bond or deposit securing the payment by Owner of all bills for labor <br /> <br />and materials incurred in the construction of the Improvements and the doing of all other <br /> <br />work herein agreed to be done by Owner, with respect to the Improvements. The <br /> <br />amount of said security shall be Three Hundred Forty Five Thousand and No/100 <br /> <br />Dollars ($345,000.00). The aforementioned security shall include, in addition to the <br /> <br />principal amounts, a guarantee of the payment of costs and reasonable expenses and <br /> <br />fees, including reasonable attorney's fees, incurred by City in the event of successful <br /> <br />enforcement of such security. <br /> <br />3. HOLD HARMLESS. Owner hereby agrees to defend, indemnify, and <br /> <br />hold harmless the City, its Council, boards, commissions, officers, agents, and <br /> <br />employees from and against any and all claims, suits, actions, liability, loss, damage, <br /> <br />expense, cost (including without limitation, costs and fees of litigation) of every nature, <br /> <br />kind or description, which may be brought against, or suffered or sustained by, City, its <br /> <br />Council, their boards, commissions, officers, employees, or agents, arising out of or <br /> <br />related to the construction and completion of the Improvements by Owner, caused in <br /> <br />whole or in part by any negligent act or omission of Owner, its officers and employees, <br /> <br />or anyone for whose acts any of them may be liable, except where caused by the active <br /> <br />A TTY/AGR/2008.001 <br />1/7/08 <br /> <br />3 <br />