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6.1D Page 8 forty three thousand six hundred sixty five dollars ($1,343,665.00). Owner shall likewise, prior to the commencement of any work on the Improvements, fumish 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 one million three hundred forty three thousand six hundred sixty five dollars ($1,343,665.00). 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 attomeys' 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. 3. Hold Harmless. Owner shall indemnify, defend and hold harmless the City, its Council, boards, commissions, officers, agents, employees and volunteers, from and against any and all liability, loss, damage, expense, costs (including without limitation, costs and fees of litigation) of every nature arising out of or in connection with Owner's performance of work hereunder or its failure to comply with any of its obligations contained in the agreement, except such loss or damage which was caused by the sole negligence or willful misconduct of the City. 4. Insurance. Owner will obtain and maintain for the duration of the Agreement and any and all amendments, insurance against claims for injuries to persons or damage to property which may arise out of or in connection with construction of the Improvements by Owner or Owner's agents, representatives, employees or subcontractors. The insurance will be obtained from an insurance carrier admitted and authorized to do business in the State of California. The insurance carrier is required to have a current Best's Key Rating of not less than "A -V." 4.1 Coverages and Limits. Owner will maintain the types of coverages and minimum limits indicated below, unless Risk Manager or City Manager, in consultation ATTY /AGR/2011.014/ 134 MAPLE IMPROVEMENT 3 021711