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One bond shams. be in the amount of 100 c.~ the total estimated <br />cost of the work for each stage of development, conditioned upon <br />faithful performance of this agreement, and one bond in the amount <br />of 1000 of the total estimated cost of the work for each stage of <br />development shall secure payment for labor and materials. <br />Cash or 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 />$728,000.00 <br />In event of breach by Subdivider, City may take over the work <br />and prosecute the same to completion by any method the City deems <br />advisable. Said work shall be for the account and at the expense <br />of the Subdivider. Subdivider shall be liable to the City for any <br />excess costs or damages suffered by the City. <br />8. Financing. In the event City and Subdivider enter a con- <br />tract upon mutually agreeable terms providing an appropriate special <br />assessment act for financing and improvement of streets and easements, <br />the City may consent to the following: <br />a. The inclusion of this tract and other lands within <br />said contracts, and <br />b. the release of improvement security as defined <br />in Section 66499 of the Government Code, where <br />the assessment contract has filed surety bonds <br />for said improvements. <br />9. Defects. Subdivider shall be liable for defects in workman- <br />ship and materials on all of the above described improvements for a <br />period of one (1) year after acceptance and as security for liability <br />against such defects, Subdivider shall file improvement or maintenance <br />security with the City Clerk, of a type approved by the City Attorney, <br />in the amount of 40s of the total estimated cost•set forth above. <br />10. Worker's Compensation. Before commencing work under this <br />contract, Subdivider shall take out and maintain during the course of <br />this agreement, such worker's compensation insurance as required by <br />the laws of the State of California. If the Acting General Contractor <br />is not the Subdivider, then the General Contractor will provide the <br />City with the said certificate of worker's compensation insurance <br />prior to start of construction. On failing to do so, the City may <br />procure such insurance for the Subdivider and the Subdivider shall <br />pay the cost. <br />11. Hold Harmless Agreement. Subdivider hereby agrees to, and <br />shall hold City, its elective and appointive Boards, Commissions, <br />officers, agents, and employees, harmless from any liability for damage <br />or claims for damage for personal injury, including death, as well <br />as from claims from property damage which may arise from Subc~ivider's <br />contractors', subcontractors', agents' or employees' operation under <br />this agreement, whether such operations be by Subdivider or by any of <br />Subdivider's contractors, subcontractors, or by any one or more per- <br />