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(b) Separate improvement security in the sum of NINE MILLION DOLLARS <br /> ($9,000,000.00), which sum is equal to one hundred percent (100 %) of the estimated cost of constructing <br /> the required improvements, security payment to the contractor, his subcontractor and-to persons furnishing <br /> labor, materials or equipment to them for the construction of the required improvements, and for the <br /> payment of amounts due under the Unemployment Insurance Act with respect to such work or labor in <br /> connection with the installation of such improvements. The form of the improvement security shall be <br /> subject to the approval of the City Attorney. Improvement security shall be reduced or released by City only <br /> in the manner provided by the City Engineer. No change, alteration or addition to the terms of this <br /> Agreement or the plans and specifications accompanying the same shall in any manner affect the obligation <br /> of those providing improvement security pursuant to this Agreement. <br /> 14. Maintenance Security. Concurrently with the acceptance of work described hereof Owner <br /> shall furnish the City a maintenance and repair security in a form acceptable to the City Engineer in the <br /> amount of NINE HUNDRED THOUSAND DOLLARS ($900,000.00), to guarantee that all areas to be <br /> improved are free from defect for a period of one year after initial acceptance of entire work by the City. In <br /> the event Owner fails, neglects or refuses to maintain said areas, City is hereby authorized to expend all or <br /> any portion of said deposit during construction and during the one year maintenance period to accomplish <br /> the above. <br /> 15. Hold l-larmless Agreement. Owner hereby agrees to, and shall, hold City, its elective <br /> and appointive boards, commissions, officers, agents and employees harmless from and against any or all <br /> loss, liability, expense, claim, costs, suits, damages of every kind, nature and description directly or <br /> indirectly arising from the performance of the work from Owner, Owner's contractors', subcontractors', <br /> agents' or employees' operations under this Agreement. Owner agrees to, and shall, defend City and its <br /> elective and appointive boards, commissions, officers, agents and employees from any suits or actions at <br /> law or in equity for damages caused or alleged to have been caused, by reason of any of the aforesaid <br /> operations; provided as follows: <br /> STANDARD PUBLIC IMPROVEMENT AGREEMENT Page 5 of 13 <br /> G: \_LD1_Address\M\Marina Blvd 1701 (Kaiser)101f site improvement plans \Public Improvement Agreement 2500 Merced.doc <br />