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EXHIBIT 2 <br /> (i) GRANTEE, ON BEHALF OF ITSELF, ITS SUCCESSORS, <br /> AND ASSIGNS, WAIVES AND RELEASES THE CITY FROM ANY RIGHT OF ACTION <br /> THAT MAY BE AVAILABLE TO ANY OF THEM PURSUANT TO LABOR CODE <br /> SECTION 1781, ADDITIONALLY, GRANTEE SHALL INDEMNIFY,DEFEND AND HOLD <br /> HARMLESS THE CITY AGAINST ANY CLAIMS PURSUANT TO LABOR CODE <br /> SECTION 1781, OR THE CITY'S COMMUNITY WORKFORCE AGREEMENT, ARISING <br /> FROM THIS AGREEMENT OR THE CONSTRUCTION OR INSTALLATION OF ALL OR <br /> ANY PORTION OF THE PROJECT. GRANTEE ACKNOWLEDGES THE PROTECTIONS <br /> OF CIVIL CODE SECTION 1542 RELATIVE TO THE WAIVER AND RELEASE I <br /> CONTAINED IN THIS SECTION 8.6,WHICH READS AS FOLLOWS: <br /> A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE 'I <br /> CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER <br /> FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF <br /> KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS <br /> OR HER SETTLEMENT WITH THE DEBTOR. <br /> (d) BY INITIALING BELOW, GRANTEE KNOWINGLY AND <br /> VOLUNTARILY WAIVES THE PROVISIONS OF SECTION 1542 SOLELY IN <br /> CONNECTION WITH THE WAIVERS AND RELEASES OF THIS SECTION 8.6. <br /> (e) ADDITIONALLY, GRANTEE SHALL INDEMNIFY, DEFEND AND <br /> HOLD HARMLESS THE CITY AGAINST ANY CLAIMS PURSUANT TO LABOR CODE <br /> SECTION 1781 ARISING FROM THIS AGREEMENT OR THE THE PROJECT. <br /> GRANTEE'S INITIALS: <br /> 8.7 Grantee's Assurance of Construction Completion. Prior to <br /> commencement of construction of the Improvements, Grantee shall famish to City evidence that <br /> assures Grantee that sufficient monies will be available to complete the proposed construction <br /> (the "Construction Security"). The City Project Manager shall approve or disapprove the <br /> Construction Security,which approval shall not be unreasonably withheld. The amount of money <br /> available from the Construction Security shall be at least the total estimated construction cost. <br /> Subject to approval from the City Project Manager,the Construction Security may tape one of <br /> the following forms: <br /> (i) Performance bond and labor and materials bond in a principal <br /> sung equal to the total estimated constriction cost supplied by Contractor or subcontractors, <br /> provided said bonds are issued jointly to Grantee, City and any Senior Lenders as obligees. <br /> i <br /> (ii) Irrevocable letter of credit issued to City from a financial <br /> institution to be in effect until City acknowledges satisfactory Completion of Construction; <br /> (iii) Cash deposited with the City(may be in the form of cashier's <br /> check or money order or may be electronically deposited); <br /> i <br /> i <br />