RES 82454 - Laserfiche WebLink

On<; bond shall_ ~ in the amount of 100% o_ the total estimated c6st of tile work fe each stage of dcvelopmcnl conditioned upon faithful performance of this agreernc:nt, and one bond in the amount of 100% of the total estimated cost ~f the work for each stage of development shall secure payment for labor and materials. Ca:st or instruments of credit shall be in an arrlount not less titan 100% of the total estimated cost of improvements which is as follows: $ 286,000.00 In eveut of breach by ~ubdivider, 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 Subctj_vider. Subdivider shall be liable.. to the City for any excess costs or damQges suffered by the City. 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: The inclusion of this tract and other lands within said contracts, and be the release of improvement security as defined in Section 66499 of the Government Code, V~here the 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 abo',~e 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. Worker's Compensation. Before commencing work under this contract, Subdivider shall take out and maintain during the coulse of this dgreement, such worker's compensation insurance as required by the laws of the State of California. If the Acting General Con'tractor is not tile Subdivider, then the General Contractor will provide the City l.;ith 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, ill. iiold Harmless Agreement. Subdivider hereby agrees to, and shall hold City, its elective and appointive Boards, Commissi.ons~. officers, agents~ and employees, harmless from any liability for damage or claims for damage for pcrsenal injnry, including death, as well as from claims from property damage which may arise from Subdivider's contractors ', subcontractors~ , agents~ or employees' operation under th'~s a~recm~c, nt~ whether such operations be by Snbdivider or by any of Subdivider's contractors, subcontractors, or by any one or more per-