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DES:djk 09/03/97 (013/72) <br /> <br />($2,567,000.00) · Owner shall likewise, before the release of <br />said map, furnisk and file with the City Clerk a bond or deposit <br />securing the payment by Owner of all bills for labor and <br />materials incurred in the construction of the Improvements and <br /> <br /> a~l , <br />the doing of ~ other work herein agreed to be done by Owner <br /> <br />with respec~ tc the Improvements. The amount of said security <br />shall be Two Million Five Hundred Sixty-seven Thousand and No/100 <br />Dollars ($~, 56, , 000.00) . The aforementioned security ~ ~ <br />include, in addition to the principal amounts, a guarantee of the <br />payment of costs and reasonable expenses and fees, including <br />reasonable attorneys fees, incurred by City in the event of <br />successful enforcement of such security. <br /> <br /> 3. HOLD HARMLESS. Owner shall protect, indemnify, and <br /> <br />hold harmless the City, its Council, boards, commissions, <br />officers, agents, and employees, from and against any and all <br />liability, losses, damages, claims, causes of action, or actions <br />arising out of any accident, occurrence or incident resulting <br />from, or alleged to have resulted from the construction of any of <br />the Improvements by Owner, the negligent performance of any <br />contractual responsibility of Owner, or any negligent action of <br />Owner undertaken by Owner as a result of, or in the furtherance <br />of, such construction or other responsibility of Owner. Owner <br />shall also protect, indemnify and hold harmless the above parties <br />for any liability from and against claims and liability based <br />upon the use of any patent or patented article by Owner in the <br />construction of said work or Improvements. Owner's duty to <br />defend and hold harmless shall include the responsibility to <br /> <br /> 4 <br /> <br /> <br />