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One bond shall be in the amount of 100% c~F the total estimated <br />cost of the work fo: ~ach stage of developmen conditioned upon <br />faithful performance of thfs agreement, and one bond in the amount <br />of 100% of the total estimated cost Qf the work for each stage of <br />development shall secure payment for labor and materials. <br /> <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 /> <br />$450,000.00 <br /> <br /> I~ event of .breach by Subdivider, City may take over the work <br />and pros~;ute the same to completion by any method the City deems <br />advisable. Said work shall be for the account and at the expense <br />o~ the S,~bdivider. Subdivider shall be liable to the City for any <br />excess costs or damages suffered by the City. <br /> <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 fo.r financing and improvement of streets and easements, <br />the City may consenk to the following: <br /> <br /> a. The i~,clusion of this tract and other lands ~ithin <br /> said contractst and :: <br /> <br />).1 o <br /> <br />the re]case of improvement security as defined <br />:lit Sect[on 66499 of the Government Code, where <br />Lhe assessment contract has filed surety bonds <br />for said improvements. <br /> <br /> 9. l}efecks. Subdi. vider shall be liable for defects in workman- <br />ship and maLcr:i. als on all of the above described improvements for a <br />period of one (1) yc:ar after acceptance and as security for liability <br />against such dc:lr~-~c|Ls, Subdivider shall file improvement or maintenance <br />security with tl~e Ci|.y Clerk, of a .type approved Ly the City Attorney, <br />in the amount of 10% of Lhe tohal estimated cost set forth above. <br /> <br /> .]0. Worker':; Compen:~ation. Before commencing work under Ehis <br />contract, ~]]'[~<'Y.L~_~t]"[ii:""i;]]7{,'l.~ take out and maintain durin~ :the co~-se of <br />this agreement, sucl~ worker's compensation insurance as required by <br />the laws o[ t!~e Stnte of California. If the Acting General Contractor <br />is not tl~e Subally.[tier, ther~ the General Contractor will provide ~he <br />CiLy w[tl~ l~hu i;aid cerL].ficaLe of worker's compensaEion insurance <br />pr.[or t:~ star[: of co~strucl:ion. On failing LO do so, the City ~nay <br />procure s~{c:]~ .i~su.r'aucc for the Subdivider and the Subdivider shall' <br /> <br /> 11. }lo_l.{l 11;tz:mlcss Aq.rcement. Subdivider hereby agrees to, and <br />shall hold City, it-u clccti.ve and appointive Boards, Commissions, <br />office.z;s, agents, and employees, harmless from any liability for damage <br />or claims for damage for personal. injury, including death, as well <br />as front claims froin property damage which may arise from Subdivider's <br />contractors', subcontractors', agents' or employees' operation under <br />this agreement, whether such operations be by Subdivider or by any of <br />Subdividcr'-~; contractors, subcontractors, or by any one or more per- <br /> <br /> <br />