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(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 <br />CONTAINED IN THIS SECTION 8.6, WHICH READS AS FOLLOWS: <br />A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE <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 furnish 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 take one of <br />the following forms: <br />(i)Performance bond and labor and materials bond in a principal <br />sum equal to the total estimated construction cost supplied by Contractor or subcontractors, <br />provided said bonds are issued jointly to Grantee, City and any Senior Lenders as obligees. <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 />EXHIBIT 2