Laserfiche WebLink
251 <br />Breach of the Developer. The occurrence of any of the following constitutes a <br />breach and default of this Agreement by Developer: <br />(1) <br />Developer refuses or fails to complete the Work within the time set forth herein <br />or abandons the Work <br />(2) <br />Developer assigns the Agreement without the prior written consent of City. <br />(3) <br />Developer is adjudged bankrupt or makes a general assignment for the benefit of <br />creditors, or a receiver is appointed in the event of Developer's insolvency. <br />(4) <br />Developer or Developer's contractors, subcontractors, agents or employees, fail <br />to comply with any terms or conditions of this Agreement. <br />(5) <br />Any delay in the construction of any portion of the Work or repairs, which in the <br />reasonable opinion of the City Engineer, endangers public or private property. <br />City may serve written notice of breach and default upon Developer and the financial institution holding <br />the securities. <br />26. Opoortunity to Cure. If City gives Developer notice under Section 25 of breach and <br />default of this Agreement, Developer shall have 30 days within which to correct, remedy or cure the <br />default. If the written notification states that the problem is urgent and relates to the public health and <br />safety, then Developer shall have 24 hours to correct, remedy or cure the default. If Developer does not <br />cure the default within the applicable timeframe, City may pursue the remedies set forth in Section 26 <br />below. <br />27. Remedies. <br />271 City may proceed to complete the Work by contract or other method City <br />considers advisable, at the sole expense of Developer. Developer, immediately upon demand, <br />shall pay the costs and charges related to the Work and any subsequent repairs. City, without <br />liability for doing so, may take possession of and utilize in completing the Work and repairs, if <br />any, such materials and other property belonging to Developer as may be on or about the Property <br />and necessary for completion of the work. In the event of default, the financial institution holding <br />the securities shall be liable to City to pay the face amount of the security, as specified under <br />Section 14. <br />272 City may bring legal action to compel performance of this Agreement and <br />recover the costs of completing the Work and/or repairs, if any, including City's administrative <br />and legal costs or pursue any other action at law or equity. <br />273 Developer agrees that if legal action is brought by City under this section of the <br />Agreement, Developer shall pay all of the costs of suit, reasonable attorney fees, arbitration costs <br />and such other costs as may be determined by the court or arbitrator. <br />27A No failure on the part of City to exercise any right or remedy hereunder shall <br />operate as a waiver of any other right or remedy that City may have hereunder. <br />REV: 04-06-17 PR <br />Page 13 of 29 <br />ATTY/AGR.2017.073/Stanford - Subdivision Improvement Agreement <br />