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has been let through an assessment district <br />proceeding, and where said bonds have been <br />filed with the City Clerk rp for to the execution <br />of this agreement, as apart of the existing <br />improvement district. proceedings. <br />One bond shall be in the amount of 100% of the total <br />estimated cost of the work for each stage of development, <br />conditioned upon faithful performance of this agreement, and <br />one bond in the amount of 100% of the total estimated cost <br />of the work for each stage of development shall secure <br />payment for labor and materials. <br />Cash or instruments of credit shall be in an amount not <br />less than 100% of the total estimated cost of improvements <br />which is as follows; <br />$300,000.00 <br />In event of breach by Developer, City may take over the <br />work and prosecute the same to completion by any method the <br />City deems advisable. Said work shall be for the account <br />and at the expense of the Developer. Developer shall be <br />liable to the City for any excess costs or damages suffered <br />by the City. <br />7. Acquisition By Assessment District. The parties <br />shall cooperate with each other to cause the North Pleasanton <br />Water Improvement District to be formed as soon as reasonably <br />practical and to cause the North Pleasanton Water Improvement <br />District to reimburse Developer for all costs and expenses <br />incurred or paid by Developer, if such costs and expenses <br />are included as a part of the costs and expenses financed by <br />-5- <br />