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No /100 Dollars ($1,602,000.00) and Owner shall also furnish to City and file with <br />the City Clerk a bond or deposit securing the payment by Owner of all bills for <br />labor and materials incurred in the construction of any and all said <br />improvements, and the doing of all other work therein agreed to be done by <br />Owner, in the amount of One Million Six Hundred Two Thousand and No /100 <br />Dollars ($1,602,000.00). Owner shall have prepared and delivered to City <br />complete "as built' plans for said improvements prior to the release of said cash <br />deposit. <br />(b) Owner shall deposit Fifty -four Thousand Nine Hundred and No /100 <br />Dollars (54,900.00) 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 a bond or cash deposit described in paragraph <br />1(a) above by City, Owner shall undertake to guarantee for one (1) year the <br />workmanship and materials of all work and construction of all improvements <br />Reso -1095 2 <br />FAshared /Redwood \Council <br />FXS:djk <br />02/26/01 <br />14163 <br />