Reso 1997-106 to 110 - Laserfiche WebLink

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accompanying the same shall in any manner affect the obligation of those providing improvement security pursuant to this Agreement. 14. Maintenance Security. Prior to initial acceptance of any of the work constructed hereunder or the release of any of the securities required under Paragraph 13., hereof, Subdivider shall furnish the City a maintenance and repair security in a form acceptable to the City Engineer in the amount of THIRTEEN THOUSAND FOUR HUNDRED THIRTY SEVEN DOLLARS ($13 437.00) to guarantee that all areas to be improved are free from defect for a period of one year after initial acceptance of entire work by the City. In the event Subdivider fails, neglects or refuses to maintain and repair said areas, City is hereby authorized to expend all or any portion of said deposit during construction and during the one year maintenance period to accomplish the above. Upon notice by City and should it become necessary for City to utilize said deposit to correct deficiencies, Subdivider shall pay sufficient monies to City to maintain this cash deposit at not less than TEN THOUSAND DOLLARS ($ QJQ0 ) until final inspection of all the improvements and final acceptance of all public 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, S:\TM6636\SUBIMPI.AGR 7