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where said bonds have been filed with the City <br /> Clerk prior to the execution of this agreement <br /> as a part of the existing improvement district <br /> proceedings. <br /> <br /> One bond shall be in the amount of 100% of the total <br />estimated cost of the work for each stage of development, <br />conditioned upon faithful performance of this agreement, and one <br />bond in the amount of 100% of the total estimated cost of the <br />work for each stage of development shall secure payment for labor <br />and materials. <br /> <br /> Cash or instruments of credit shall be in an amount no less <br />than 100% of the total estimated cost of improvements which is as <br />follows: <br /> <br /> $260,000.00. <br /> <br /> In event of breach by Developer, 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 Developer. Developer shall be liable to the City for any <br />excess costs or damages suffered by the City. <br /> <br /> 7. Procedure If No Assessment District. In the event no <br />assessment district herein is formed, all costs, expenses and/or <br />obligations incurred or paid by Developer as a result of this <br />agreement shall be the sole responsibility of Developer. <br />Further, in the event the assessment district formed does not <br />include as reimbursable costs all the costs and expenses incurred <br />or paid pursuant to this agreement, those costs and expenses not <br />reimbursable by the assessment district shall be the sole <br />responsibility of Developer. <br /> <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, <br />as security for liability against such defects, Developer shall <br />file improvement or maintenance security with the City Clerk, of <br />a type approved by the City Attorney, in the amount of 10% of the <br />total estimated cost set forth above. <br /> <br /> 9. Worker's Compensation. Before commencing work under this <br />contract, Developer shall take out and maintain during the course <br />of this agreement, such worker's compensation insurance as <br />required by the laws of the State of California. On failing to <br />do so, the City may procure such insurance for the Developer and <br />the Developer shall pay the cost. <br /> <br /> 10. Hold Harmless Agreement. Developer hereby agrees to, and <br />shall, hold City, its elective and appointive Boards, <br />Commissions, officers, agents,and employees, harmless from any <br />liability for damage or claims for damage for personal injury, <br />including death, as well as from claims from property damage <br />which may arise from Developer's contractors', subcontractors', <br />agents' or employees' operation under this agreement, whether <br /> <br /> - 3 - <br /> <br /> <br />