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DES : djk 05 / 21 / 96 ( 010 / 70 ) <br /> any insurer ' s intention to cancel or materially change the terms of <br /> said policies given to City . If such insurance covers the Owners , <br /> another entity , or person ( s ) in addition to the City of Redwood <br /> City , such policy shall contain the standard form of cross liability <br /> or severability of interest endorsement . Such insurance shall also <br /> specifically insure any contractual liability assumed by Owners <br /> under the terms of this agreement , including , but not limited to , <br /> the provisions of Paragraph 1 above . <br /> 8 . TERM . The term of this agreement is twenty ( 20 ) years , <br /> co <br /> cp <br /> commencing upon the date first hereinabove written . <br /> CD <br /> 9 . EXTENSIONS OF TIME . Time is of the essence in this - •7 <br /> agreement ; provided , however , that in the event good cause is shown <br /> N <br /> therefor to City by Owners , City may extend the time in which the 0 <br /> aforementioned improvements may be made and completed under this <br /> agreement ; provided , however , that said extensions of time , if any , <br /> may be granted without notice to the surety , escrow agent or <br /> guarantor and any extensions so granted shall not relieve the <br /> surety , escrow agent or guarantor of any responsibility or guarantee <br /> and shall not affect the bond or deposit to secure Owners ' <br /> performance under this agreement . City shall be the sole and final <br /> judge of whether or not good cause has been shown to entitle Owners <br /> to an extension of time hereunder . Owners shall provide a copy of <br /> this agreement to Owners ' surety or otherwise inform said surety of <br /> the above extension provisions of this agreement . <br /> 10 . MONUMENTS . All pipes and monuments shown on the parcel map <br /> hereinafter referred to which are destroyed or displaced during <br /> 8 <br />