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<br />~ ~-) 9 <br /> <br />(c) In the event that City adopts an ordinance which imposes a trench cut <br />fee (the "TCF Ordinance") on entities doing excavation work within the City, <br /> <br />WILLIAMS agrees that it shall pay, upon demand, the applicable fees set forth by <br />the TCF Ordinance. <br /> <br />(d) City intends to retain the services of an inspector ("Inspector") for the <br />duration of the work of improvements. WILLIAMS agrees to pay all invoices <br /> <br />presented by City to WILLIAMS for services rendered by Inspector in connection <br /> <br />with the inspection of the work of improvement. All payments of invoices shall be <br /> <br />done upon receipt and shall bear interest at the rate of 10% per annum on any <br /> <br />unpaid balance commencing thirty (30) days after the date of the invoice. <br /> <br />(e) Notwithstanding any statement to the contrary in this Agreement, this <br />Encroachment Agreement shall not include the residential areas of Redwood <br /> <br />Shores. <br /> <br />10. Performance Bond. Prior to the issuance ot an Encroachment <br /> <br />Permit, WILLIAMS or its contractor shall provide City with a performance bond <br /> <br />naming City as obligee in the amount equal to one hundred percent (100%) of the <br />value of the work to be performed under each phase of each Encroachment <br /> <br />Permit by or on behalf of WILLIAMS or its contractor within and affecting the <br />Public Right-of-Way to guarantee and assure the faithful performance of <br /> <br />WILLIAMS' or its contractor's obligations under this Agreement. City shall have <br /> <br />the right to draw against the performance bond in the event of a default by <br />WILLIAMS or its contractor or in the event that WILLIAMS or its contractor fails to <br /> <br />R W CICouncill Agmy <br />Agmt-34 1 <br />FXS/fs <br />03/28/00. 03130/OOR <br /> <br />--- --'---'--r----"------ , <br />