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<br />. ' <br /> <br />Manager, Engineering and Construction to complete the aforementioned <br /> <br />improvements, both within and outside of the abovementioned subdivision. <br /> <br />2. SECURITY. Owner shall, before the release of said 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 One million nine hundred thirty six thousand eight hundred twelve and <br /> <br />00/100 Dollars ($1,936,812.00). Owner shall likewise, before the release of said map, <br /> <br />furnish and file with the City Clerk a bond or deposit securing the payment by Owner of <br /> <br />all bills for labor and materials incurred in the construction of the improvements and the <br /> <br />doing amount of said security shall be One million nine hundred thirty six thousand <br /> <br />eight hundred twelve and 00/100 Dollars ($1,936,812.00). The aforementioned security <br /> <br />shall include, in addition to the principal amounts, a guarantee of the payment of costs <br /> <br />and reasonable expenses and fees, including reasonable attorney's fees, incurred by <br /> <br />City in the event of successful enforcement of such security. <br /> <br />3. HOLD HARMLESS. Owner shall protect, indemnify, and hold harmless the <br /> <br />City, its Council, boards, commissions, officers, agents, and employees, from and <br /> <br />against any and all liability, losses, damages, claims, causes of action, or actions <br /> <br />arising out of any accident, occurrence or incident resulting from, or alleged to have <br /> <br />resulted from the construction of any of the Improvements by Owner, the negligent <br /> <br />performance of any contractual responsibility of Owner, or any negligent action of <br /> <br />Owner undertaken by Owner as a result of, or in the furtherance of such construction or <br /> <br />other responsibility of Owner. Owner shall also protect, indemnify and hold harmless <br /> <br />the above parties for any liability from and against claims and liability based upon the <br /> <br />ATTY/AG R/2009. 032 <br />071309 <br /> <br />3 <br />