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• • <br />d. bonds of a duly authorized surety company covering <br />all or a portion of said improvements required <br />herein where a contract far improvements has been <br />let through an assessment district proceeding, and <br />where said bonds have been filed with the City <br />Clerk prior to the execution of this agreement, as <br />a part of the existing improvement district <br />proceedings. <br />One bond shall be in the amount of 100$ of the total <br />estimated cost of the work for each stage of de~relopment, <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 />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 />$ 174,714.00 <br />In event of breach by Subdivider, City may take over the <br />items of work, as shown on Exhibit "A", and prosecute the same to <br />completion by any method the City deems advisable. Said work <br />shall be for the account and at the expense of the Subdivider.. <br />Subdivider shall be liable to the City for any excess costs or <br />damages suffered by the City. <br />8. Financing.. In the event .City and Subdivider enter a <br />contract upon mutually agreeable terms providing an appropriate <br />special assessment act for financing and improvement of streets <br />and easements, the City may consent to the following: <br />a. The inclusion of this tract and other lands within <br />said contracts, and <br />b. the release of improvement security as defined in <br />Section 66499 of the Government Code, where the <br />assessment contract has filed surety bonds for said <br />improvements. <br />9. Defects. Subdivider 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 as <br />security for liability against such defects, Subdivider shall <br />file improvement or maintenance security with the City Clerk, of <br />a type approved by the City Attorney, in the amount of 40$ of the <br />total estimated cost set forth above. <br />10. Worker's Compensation . Before commencing work under <br />this contract, Subdivider shall take out and maintain during the <br />course of this agreement, such worker's compensation insurance as <br />required by the laws of the State of California. If the Acting <br />General Contractor is not the Subdivider, then the General <br />°~ 3 <br />