Agmt08 Bechwati 579 California Way RWC

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Seven Hundred Forty Three Thousand, One Hundred Ninety and No/100 Dollars ($743,190.00). Owner shall likewise, prior to the commencement of any work on the Improvements, furnish and file with the City Clerk a bond, deposit, or instrument of credit of the kind described in Sections 66499, et seq., of the Government Code securing the payment by Owner of all bills for labor and materials incurred in the construction of the Improvements and the doing of all other work herein agreed to be done by Owner, with respect to the Improvements. The amount of said security shall be Seven Hundred Forty Three Thousand, One Hundred Ninety and No/100 Dollars ($743,190.00). The aforementioned security shall include, in addition to the principal amounts, a guarantee of the payment of costs and reasonable expenses and fees, including reasonable attorneys' fees, incurred by City in the event of successful enforcement of such security. All bonds shall be issued by a corporate surety admitted in the State of California. Bonds or instruments of credit shall be furnished and filed by the Owner. 9. Hold Harmless. Owner shall protect, indemnify, and hold harmless the City, its Council, boards, commissions, officers, agents, and employees, from and against any and all liability, losses, damages, claims, causes of action, or actions arising out of any accident, occurrence or incident resulting from, or alleged to have resulted from the construction of any of the Improvements by Owner, the negligent performance of any contractual responsibility of Owner, or any negligent action of Owner undertaken by Owner as a result of, or in the furtherance of, such construction or other responsibility of Owner, or due directly or indirectly to Permittee's use and occupancy of the right-of- way. Owner shall also protect, indemnify, and hold harmless the above parties for any ATTY/AGR.2008.066 080508 5