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consultants under contract with City ("City Costs"). Developer shall deposit with City the sums of Five <br />Thousand and No/100 Dollars ($5,000.00) and Five Thousand and No/100 Dollars ($5,000.00) (the <br />"Deposits") which City may draw against to pay City Costs associated with, respectively, the Oak MOB <br />Demolition and the Signal Removal. Developer understands that the Deposits are estimates and further <br />agrees to pay to City the actual cost of providing such services, in accordance with the City's current fees <br />and actual incurred consultant costs. Developer agrees to pay any and all additional City Costs incurred <br />by City, in excess of the costs listed above, within thirty (30) calendar days after receipt by Developer of <br />an invoice evidencing the additional incurred City Costs, and further agrees that the amount payable shall <br />be increased by ten percent (10%) in the event payment is not made within such thirty (30) calendar day <br />period. Any part of a Deposit or such additional sum or sums not utilized by City to cover the City Costs <br />shall be returned promptly to Developer. <br />6. Completion of Demolition Work and Notice of Completion. Upon Developer's <br />completion of a portion of the Demolition Work, such portions being either the Oak MOB Demolition or <br />Signal Removal, Developer shall submit a written request to the City for confirmation by the City, in the <br />form of a Notice of Completion ("NOC"), that Developer has completed that portion of the Demolition <br />Work in accordance with the Conditions and the terms and conditions of this Agreement. Developer's <br />written request for a NOC shall be accompanied by documentation, to the reasonable satisfaction of the <br />City Engineer, that Developer has, as applicable to the relevant portion of the Demolition Work for which <br />the NOC is sought: (a) completed any necessary repairs of private or public property damaged as a result <br />of the Demolition Work or otherwise satisfied the property owner for any such damages; and/or (b) <br />obtained a notice of completion (or equivalent documentation) from OSHPD documenting OSHPD's <br />certification and acceptance of the Tower MOB Demolition. Not later than thirty (30) days following <br />Developer's written request for a NOC and accompanying documentation described above, the City <br />Engineer shall inspect, as applicable, the Oak MOB Demolition and/or the Signal Removal and <br />documentation and send Developer a written notice stating whether the Oak MOB Demolition and/or <br />Signal Removal is complete to the satisfaction of the City Engineer, in his reasonable discretion. If the <br />Oak MOB Demolition and/or Signal Removal is, in the opinion of the City Engineer, not complete and <br />satisfactory, and/or Developer has not provided adequate documentation as described above, the City <br />Engineer will list the deficiencies that must be corrected for the City Engineer to issue the NOC. When <br />Developer has remedied all deficiencies identified by the City Engineer, the City Engineer will send <br />Developer a written NOC. The requirements for documentation described above may be waived by the <br />City Engineer, in his reasonable discretion, if Developer has made commercially reasonable efforts to <br />obtain and provide such documentation. The City Engineer's failure to respond to Developer's request <br />within thirty (30) days will not be deemed a breach or default under this Agreement and will not be <br />deemed to constitute the City Engineer's acceptance of the Oak MOB Demolition and/or Signal Removal, <br />or entitlement to the NOC. <br />Performance Security. <br />7.1 Developer will furnish and deliver to City, within the rimes set forth below, the <br />following securities, each of which must be issued by a surety company duly and regularly <br />authorized to do general surety business in the State of California, or such other surety as may be <br />acceptable to the City Engineer. The City and Developer agree that the estimated cost of the Oak <br />MOB Demolition Work is $216,790.00 and the Signal Removal is $150,190.00 ("Estimated Cost <br />of Demolition Work and Signal Removal"). <br />(a) Performance Security. Developer shall famish and deliver performance <br />securities in the amount of Two Hundred Sixteen Thousand Seven Hundred Ninety <br />Dollars ($216,790.00), and One Hundred Fifty Thousand One Hundred Ninety Dollars <br />($15Q190.00) concurrently with the execution of this Agreement, which securities must <br />Page 3 of 13 <br />REV: 07-20-18 PR <br />ATTY/AGR/2018.161/KAISER M082 — DEMO AGREEMENT <br />