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D. ~nt 9/10/87 (#34) <br /> <br /> In the event of the breach of any provision of this <br />paragraph, or in the event of any notices received which <br />indicates any required insurance coverage will be diminished or <br />cancelled, City at its option, may, notwithstanding any other <br />provision of this agreement to the contrary, immediately declare <br />a material breach of this agreement and suspend all further work <br />pursuant to this agreement. <br /> <br /> 9. The Contractor shall provide, on the execution of this <br />agreement, a good and sufficient corporate surety bond in the <br />penal sum of one hundred percent (100%) of amount bid, which bond <br />shall be conditioned upon the faithful performance of all work <br />required to be performed by the Contractor under this agreement. <br />Said bond shall be liable for any and all penalties and <br />obligations which may be incurred by Contractor under this <br />agreement. <br /> <br /> 10. In addition to the bond required under Paragraph 9, <br />hereof, Contractor shall furnish a good and sufficient corporate <br />surety bond in the penal sum of one hundred percent (100%) of <br />amount of bid, which bond shall conform strictly with the <br />provisions of Chapter 7, Title 15, Part 4, Division 3, of the <br />Civil Code of the State of California, and all amendments <br />thereto. <br /> <br /> 11. Pursuant to California Pub. Con. Code. §7100, the <br />acceptance by the Contractor of an undisputed payment made under <br />the terms of the contract shall operate as, and shall be, a <br />release to the City, and their duly authorized agents, from all <br />claim of and/or liability to the Contractor arising by virtue of <br /> <br /> 10 <br /> <br /> <br />