Laserfiche WebLink
<br />the Effective Date. <br /> <br />The Bond shall be issued by a surety (the "Bonding <br /> <br />Company") admitted in the State of California and approved by the City Attorney. <br /> <br />Owner agrees to pay all invoices for the Emergency Access (up to the amount of <br /> <br />the Bond) upon presentation. In the event that an invoice is not paid within 20 <br /> <br />days of the date of presentation thereof, City shall have the right, upon 48 hour <br /> <br />written notice to Owner, to notify the Bonding Company Owner is in default under <br /> <br />the payment terms of this Agreement and request that the Bonding Company <br /> <br />pay the invoice forthwith. <br /> <br />In the event that City is compelled to notify the Bonding Company that <br /> <br />Owner is in default under the terms of the Agreement, City shall be entitled to <br /> <br />attorney's fees in connection with the preparation of the letter to the Bonding <br /> <br />Company and subsequent legal matters related to the collection of the invoice. <br /> <br />The Bond to be used in connection with this Agreement shall generally comply <br /> <br />with the terms and conditions of the form attached hereto, marked Exhibit "E," <br /> <br />and incorporated by this reference. <br /> <br />Notwithstanding any language to the contrary in this Agreement, any <br /> <br />reference to reimbursement to Owner by City shall only apply to the extent that <br /> <br />Owner has not elected to post the Bond but has deposited cash with the City, <br /> <br />provided that the Bond shall be released upon the occurrence of any event that <br /> <br />would cause reimbursement to Owner as provided herein. <br /> <br />Section 2.06 No Additional Fees. Except as contemplated by this <br /> <br />Agreement, no Traffic Mitigation Fees shall be payable by Owner with respect to <br /> <br />f/sh/sh/RC/council <br />AGMT-232 <br />02/08/00 <br />9:21 AM <br />FXS/fs/ <br /> <br />13 <br />