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�.z.-��� <br /> (e) Notwithstanding any statement to the contrary in this Agreement, this Encroachment <br /> Agreement shall not include the residential areas of Redwood Shores. � <br /> 10. Pertormance Bond. Prior to the issuance of an Encroachment Permit, MFN or <br /> its contractor shall provide City with a performance bond naming City as obligee in the amount <br /> equal to one hundred percent (100%) of the value of the work to be performed under each <br /> phase of each Encraachment Permit by or on behalf of MFN or its contractor within and <br /> affecting the Public Right-of-Way to guarantee and assure the faithful performance of MFN' or <br /> its contractor's obligations under this Agreement. City shall have the right to draw against the <br /> performance bond in the event of a default by MFN or its contractor or in the event that MFN or <br /> its contractor fails to meet and fully perform any of its obligations; provided that MFN or its <br /> � contractor is first given written notice of any intent to draw against the bond and an opportunity <br /> to cure. Following completion of the work by MFN or its contractor and its inspection and <br /> acceptance by the Director, the performance bond shall remain in effect to the extent of ten <br /> percent (10%) of the value of the work performed under each Encroachment Permit to ' <br /> guarantee and assure that faithful performance of MFN' obligations under this Agreement for a <br /> period of one (1) year from the City's acceptance of the work performed under each <br /> Encroachment Permit. City shall have the right to draw against the bond in the event of a <br /> default by MFN or its contractor or in the event that MFN or its contractor fails to meet and fully <br /> perform any of its ob�igations. The form of the performance bond shall be furnished and <br /> approved by the City. <br /> 11. Dama4e to Facilities in Pubiic Riaht-of-Wav or on Private <br /> Proaertv. <br /> (a) MFN shall be responsible for any damage to City street pavements, existing <br /> utilities, curbs, gutters, sidewalks or to any private property or improvements to the extent <br /> attributable to its installation, maintenance, repair or removal of its Fiber Optic Network Facilities <br /> Aemt-409 <br /> fish/sh/Redwood <br /> F}{S:r� <br /> 10/US/00 <br /> 13 <br />