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C <br />1 <br />One bond shall be in the amount of 100$ of the total estimated <br />cost of the work for each stage of development, conditioned upon <br />faithful performance of this agreement, and one bond in the amount <br />of 100 of the total estimated cost of the work for each stage of <br />development shall secure payment for labor and materials. <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 />$4,015,000.00 <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 />7. Assessment District Credit.. Developer intends to request <br />the formation of a Special Assessment or other Benefit District in <br />order to be reimbursed for the cost of the project. <br />City agrees to consider the establishment of such District(s). <br />8. Defects. Developer shall be liable for defects in workman- <br />ship and mate- als on all of the above described improvements for a <br />period of one (1) year after acceptance and as security for liability <br />against such defects, Developer shall file improvement or maintenance <br />security with the City Clerk, of a type approved by the City Attorney, <br />in the amount of 40~ of the total estimated cost set forth above. <br />9. Worker's Compensation. Before commencing work under this <br />contract, Developer shall take out. and maintain during the course of <br />this agreement, such worker's compensation insurance as required by <br />the laws of the State of California. On failing to do so, the City <br />may procure such insurance for the Developer and the Developer shall <br />pay the cost. <br />10. Hold Harmless Agreement. Developer hereby agrees to, and <br />shall hold City, its elective and appointive Boards, Commissions, <br />officers, agents, and employees, harmless from any liability for damage <br />or claims for damage for personal injury, including death, as well <br />as from claims from property damage which may arise from Developer's <br />contractors', subcontractors', agents' or employees' operation under <br />this agreement, whether such operations be by Developer or by any of <br />Developer's contractors, subcontractors, or by any one or more per- <br />sons directly employed by, or acting as agent for, Developer or any <br />-3- <br />