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<br />(e) Notwithstanding any statement to the contrary in this Agreement, this Encroachment <br /> <br />Agreement shall not include the residential areas of Redwood Shores. <br /> <br />10. Performance Bond. <br /> <br />Prior to the issuance of an Encroachment Permit, MFN or <br /> <br />its contractor shall provide City with a performance bond naming City as obligee in the amount <br /> <br />equal to one hundred percent (100%) of the value of the work to be performed under each <br /> <br />phase of each Encroachment Permit by or on behalf of MFN or its contractor within and <br /> <br />affecting the Public Right-of-Way to guarantee and assure the faithful performance of MFN' or <br /> <br />its contractor's obligations under this Agreement. City shall have the right to draw against the <br /> <br />performance bond in the event of a default by MFN or its contractor or in the event that MFN or <br /> <br />its contractor fails to meet and fully perform any of its obligations; provided that MFN or its <br /> <br />contractor is first given written notice of any intent to draw against the bond and an opportunity <br /> <br />to cure. Following completion of the work by MFN or its contractor and its inspection and <br /> <br />acceptance by the Director, the performance bond shall remain in effect to the extent of ten <br /> <br />percent (10%) of the value of the work performed under each Encroachment Permit to <br /> <br />guarantee and assure that faithful performance of MFN' obligations under this Agreement for a <br /> <br />period of one (1) year from the City's acceptance of the work performed under each <br /> <br />Encroachment Permit. City shall have the right to draw against the bond in the event of a <br /> <br />default by MFN or its contractor or in the event that MFN or its contractor fails to meet and fully <br /> <br />perform any of its obligations. The form of the performance bond shall be furnished and <br /> <br />approved by the City. <br /> <br />11. <br /> <br />Damaae to Facilities in Public Riaht-of-Wav or on Private <br />Property. <br /> <br />(a) <br /> <br />MFN shall be responsible for any damage to City street pavements, existing <br /> <br />utilities, curbs, gutters, sidewalks or to any private property or improvements to the extent <br /> <br />attributable to its installation, maintenance, repair or removal of its Fiber Optic Network Facilities <br />Agmt-409 <br />f/sh/sh/Redwood <br />FXS:rg <br />10/05/00 <br /> <br />13 <br />