700 MARKET ASSOCIATES - Laserfiche WebLink

One bond shall be in the .amount of 100% of the total estimated . ~ cost of the work f each stage"of developme conditioned upon :..faithful pertorman~ of this agreement, and ~ bond in the w of 100 of the total estimated cost of the work for each stage oft development ,s hall secure payment for labor and materials.. Cash or instruments of credit shall be in an amount not less than 100% of the total estimated cost of improvements which is as follows: $ 746,200.00 In event of breach by Subdivider, City may take over the work and prosecute the same to completion by any method the City deems advisable. Said work shall be for the account and at the expense of .the Subdivider. Subdivider shall be liable to the City for any excesscosts or damages suffered by the City.. 8. Financing. In the event City and Subdivider enter a~con- tract upon mutually agreeable terms providing an appropriate special assessment act for financing and improvement of streets and easements, the City may consent to the following: a. The inclusion of this tract and other lands within . saidcontracts,.and b. ttte release of improvement security as defined in Section 66499 of the Government Code, where. tYie assessment contract has filed surety bonds for said improvements. 9. Defects. Subdivider shall be liable for defects in workman- ship and materials on all of the above described improvements for a period of one (1) Year after acceptance and as security for liability against such defects, Sux~c~ivider shall file improvement or maintenance security with the City Clerk, of a type approved by the City Attorney, in the amount of l0a of the total estimated cost et forth above. 10. tiVorker's Compensation.. Before commencing work under.-this contract, SCbcliv%der shall take out and maintain during the course of this agreement, such worker's compensation insurance as required by the laws of the State of California. JCf the Acting General Contractor is .not the St~l~divider, then the General Contractor will provide the City with the said certificate of worker's. compensation insurance priox to start of construction. On failing to do so, the City may procure such insurance for the Subdivider and the Subdivider shall pay the ccsst. . 11. Ftald Harmless Agreement. Subdivider hereby agrees for c'Snd shall hold City, its elective and appointive Boards, Commissions, officers, agents, and employees, harmless from any liability for damage or ,claims for damage for personal injury, including death, as well es from claims from property damage which may arise from Subdivider's _contractors', subcontractors', agents` or employees' operation under this agreement, whether such operations be b Subdivider or by any of Subdivider's contractors, subcontractors, oryby any one or more per-