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A. cash deposit made with the City; or <br />B. bonds on duly-authorized corporate sureties; or <br />C. instruments of credit from financial institutions <br />subject to regulation by State or Federal <br />government; or <br />D. bonds of a duly-authorized surety company covering <br />all or a portion of said improvements and said <br />bonds have been filed with the City Clerk rior to <br />the execution of this Agreement. <br />One bond shall be in the amount of 100$ of the total <br />estimated cost of the public improvements, conditioned upon <br />faithful performance of this Agreement, and one bond in the amount <br />of 100 of the total estimated cost of the work for public <br />improvements shall secure payment for labor and materials. <br />Instruments of credit shall be in an amount not less <br />than 100 of the total estimated cost of improvements, which is as <br />follows: <br />$1,430,100.00 <br />In the event of a breach by Developer, City may take <br />over the work and prosecute the same to completion by any method <br />the City deems advisable. Said work shall be for the account and <br />at the expense of the Developer. Developer shall be liable to the <br />City for any excess costs or damages suffered by the City. <br />8. Defects. Developer shall be liable for defects in <br />workmanship and materials on all of the above-described <br />improvements for a period of one (1) year after acceptance and as <br />security for liability against such defects, Developer shall file <br />improvement or maintenance security with the City Clerk, of a type <br />approved by the City Attorney, in the amount of 10$ of the total <br />estimated cost set forth above. <br />9. Workers' Compensation. Before commencing work under <br />this contract, Developer shall take out and maintain during the <br />course of this Agreement, such workers' compensation insurance as <br />required by the laws of the State of California. If the Acting <br />General Contractor is not the Developer, then the General <br />Contractor will provide the City with the said certificate of <br />workers' compensation insurance prior to the start of <br />construction. On failing to do so, the City may procure such <br />insurance for the Developer and Developer shall pay the cost. <br />10. Hold Harmless Agreement. Developer hereby agrees to and <br />shall hold City, its elective and appointive Boards, Commissions, <br />officers, agents, and employees, harmless from any liability for <br />damage or claims for damage for personal injury, including death, <br />as well as from claims for property damage which may arise from <br />