RES 84212 - Laserfiche WebLink

une Dond shall be in the amount of 100%~of the total estimated c6St of the work ~r each stage of developm, ~, conditioned upon faithful performa~.~e of th~s agreement, and one bond in the amount of 100% of the total estimated cost of the work for each stage of· development shall secure.payment for labor .and materia.ls. 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: $ '391,000.00 In event of breach by Subdivider, City may take over'~the work and prosecute the same to completionS'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 excess costs or damages sufferedby the City. .- ' 8. . Financing. In the event. City and Subdivider enter a'con- tract upon mutually agreeable terms'providing an appropriate special assessmen~ act for financing and improvement of streets and easements, the City may consen~ ~o the following: ·~ The i~clusion of this tract and other. lands within said contracts, and b. the release of improvement security as defined in Section 66499 of the Government Code, where ~he assessment contract has filed surety bonds for said improvements. -. 9'. Defects. Subdivider shall be liable for defects in wo~man- 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, Subdivider shall file improvement or maintenance security with the City Clerk, of a.type approved by the City Attorney, in the amount of 10% of the total estimated cost set forth above. 10. Wo~ker's Compensation. Before commencing workunder'this contract, Subdivider shall take out and maintain during the course of this agreement, such worker's compensation insurance as requiredby the laws of the State of California. If the Acting General Contractor is not the Subdivider, then the General Contractor will provide the City with the said certificate of worker's compensation insurance prior to start of construction. On failing to do so, the City may procure such insurance for the Subdivider and the Subdivider shall pay the cost. 11. Hold Harmless Agreement. Subdivider hereby agrees to, and 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 as from claims from property damage which may arise from Subdivider's contractors' subcontractors', agents' or employees' operation under · this agreement, whether such operations be. by Subdivider or by any of~ Subdivi~er's contractors· subcontractors, Or by any one or more per.