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<br />NORESCO shall provide, on the execution of the Agreement, a good and <br />sufficient corporate surety bond issue by a corporate surety admitted in the State <br />of California in the penal sum of one hundred percent (100%) of the amount of <br />the Agreement, which bond shall be conditioned upon the faithful performance of <br />all work required to be performed by NORESCO under this Agreement. Said <br />bond shall be liable for any and all penalties and obligations which may be <br />incurred by NORESCO under this Agreement. Acceptance of the bond by the <br />City is subject to the review and approval of the bond by the City Attorney's <br />office. <br /> <br />In addition to the bond required above, NORESCO shall furnish a good and <br />sufficient corporate surety payment bond issued by a corporate surety admitted <br />in the State of California in the penal sum of one hundred percent (100%) of the <br />amount of this Agreement, which bond shall conform strictly with the provisions <br />of Chapter 7, Title 15, Part 4, Division 3, of the Civil Code of the State of <br />California, and all amendments thereto. Acceptance of the bond by the City is <br />subject to the review and approval of the bond by the City Attorney's office. <br /> <br />SECTION 14 - Aareement Interpretation and Performance <br /> <br />The interpretation and performance of this Agreement shall be in accordance <br />with and controlled by the laws of the State of California. <br /> <br />SECTION 15 - Privileaed and Proprietary Information <br /> <br />NORESCO IS systems, means, costs and methodologies of evaluating, <br />implementing, accomplishing and determining energy savings and the terms of <br />the Agreement for this project shall be considered privileged and proprietary <br />information. Customer shall use the same level of effort to protect and safeguard <br />such information as it employs to safeguard its own confidential information. <br />Customer shall not disclose, except as necessary and/or required by law, such <br />proprietary information without the express written consent of an officer of <br />NORESCO. <br /> <br />SECTION 16 - Severability <br /> <br />In the event that any clause or provision of this Agreement or any part thereof <br />shall be declared invalid by any court having jurisdiction, such invalidity shall not <br />affect the validity or enforceability of the remaining portions of this Agreement. <br /> <br />- 9- <br /> <br />12/12/00 <br />