Reso 1997-026 to 030 - Laserfiche WebLink

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14. Maintenance Security. Subdivider shall furnish the City a maintenance and repair security in a form acceptable to the City Engineer in the amount of SEE PARAGRAPH 25., HEREOF, to guarantee that all areas to be improved are free from defect for a period of one year after initial acceptance of entire work by the City. In the event Subdivider fails, neglects or refuses to maintain and repair said areas, City is hereby authorized to expend all or any portion of said deposit during construction and during the one year maintenance period to accomplish the above. Upon notice by City and should it become necessary for City to utilize said deposit to correct deficiencies, Subdivider shall pay sufficient monies to City to maintain this cash deposit at SIXTY FIVE THOUSAND DOLLARS ($65.000.00) until final inspection and final acceptance of all the improvements. Any unexpended amount will be returned to the Subdivider at the time all bonds and securities are released. 15. Hold Harmless Agreement. Subdivider hereby agrees to, and shall, hold City, its elective and appointive boards, commissions, officers, agents and employees harmless from and against any or all loss, liability, expense, claim, costs, suits, damages of every kind, nature and description directly or indirectly arising from the performance of the work from Subdivider, Subdivider's contractors', subcontractors', agents' or employees' operations under this Agreement. Subdivider agrees to. and shall, defend City and its elective and appointive boards, commissions, officers, agents and employees from any suits or actions at law or in equity for damages caused or alleged to have been caused. by reason of any of the aforesaid operations: provided as follows: F:\SIROBTSLND',TM6810-3`SUBIMP:.AGR Page 8 of 22