Agmt18 Centrum Owners Association, Oracle Corp Grant of Revocable Encroachment Permit

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expenses. Upon such withdrawal from an Existing Security, the City shall notify Permittee in writing, by First Class Mail, postage prepaid, of the amount withdrawn and the date thereof. (b) Thirty days after the City's mailing of notice of the cash deposit or bond forfeiture or withdrawal authorized herein, Permittee shall deposit such further cash or bond, or other security, as the City may require, which is sufficient to bring the amount of each Existing Security back to its original amount. (c) The rights reserved to the City with respect to any Existing Security are in addition to all other rights of the City whether reserved by this Permit or authorized by law, and no action, proceeding, or exercise of a right with respect to any cash deposit or bond shall constitute an election or waiver of any rights or other remedies the City may have. 4.4 Other Security Provisions. (a) If any Existing Security is a corporate surety bond and, in the opinion of the City, any surety or sureties thereon become insufficient, Permittee shall renew or replace any such surety with good and sufficient surety or sureties within ten (10) days after receiving from City written demand thereof. (b) Any Existing Security consisting of corporate surety bonds shall be kept on file with the City Engineer. If a corporate surety bond is replaced by another approved bond, the replacement shall be filed with the City Engineer and made a part of and incorporated into this Permit. Upon filing and approval by the City Engineer of a replacement bond, the former Existing Security shall be released. (c) If there is an increase to the estimated cost of any work, City may require Permittee to increase the amount of any Additional Performance Security and/or Additional Payment Security so that the applicable securities cover the entire estimated cost of the work. In addition, if there is any increase to the estimated cost of any work, City may also require Permittee to obtain an Additional Performance Security and/or Additional Payment Security even if such additional security had not been originally required with respect to the work. ARTICLE V REMOVAL, RELOCATION AND ABANDONMENT 5.1 Upon receipt of a written demand from the City, Permittee, at its sole cost and expense, shall remove and relocate any Facilities installed, used and/or maintained by Permittee under this Permit when such removal or relocation is made necessary (a) due to any work proposed to be done by or on behalf of the City or other governmental agency, including but not limited to, any change of grade, alignment or width of any street, sidewalk or other public facility, installation of curbs, gutters or landscaping and installation, construction, maintenance or operation of any underground or aboveground facilities such as sewers, drains, pipes, power lines, and tracks or (b) due to a determination by the City that the ATTY/AGR/2018.026/275 ORACLE REV: 02-05-18 PR Page 6 of 18