Revocable encroachment permit Kaiser Hospitals 1100 Veterans NOT recorded

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restore the Durable Performance Security to the full amount of one hundred thousand dollars ($100,000). In the event that a bond issued pursuant to this Section of this Permit is canceled by the surety, after proper notice and pursuant to the terms of said bond, Permittee shall, prior to the expiration of said bond, procure a replacement bond that complies with the terms of this Section of this Permit. 4.2 Additional Security. (a) Whenever Permittee applies for an encroachment permit to perform work under this Permit, it will provide City with an estimate of its cost for the work, including estimated labor costs. If City, in its sole discretion, determines that the Durable Performance Security provides insufficient security in relation to the proposed work, it may require Permittee to obtain an additional performance security in an amount City determines necessary to provide adequate security (an "Additional Performance Security"), which security must be acceptable to the City Engineer. Each Additional Performance Security shall be conditioned upon the faithful performance of this Permit and any work performed thereunder and shall be released by City one year following the date the work for which it was obtained is completed, inspected, accepted, and released by the City Engineer. With respect to any proposed work, City may recover against both the Durable Performance Security and any applicable Additional Performance Security obtained to insure that work. If City draws on any Additional Performance Security, it will notify Permittee of the amount drawn, and Permittee will promptly restore such Additional Performance Security to its full original amount. (b) Whenever Permittee applies for an encroachment permit to perform work under this Permit, it will provide City with an estimate of its cost for the work, including estimated labor costs. City, in its sole discretion, may require Permittee to obtain payment security in an amount City determines necessary to provide adequate security (an "Payment Security"), which security must be acceptable to the City Engineer. City shall retain each Payment Security until both (i) one (1) year following the date the work for which it was obtained is completed, inspected, accepted, and released by the City Engineer and (ii) the applicable statute of limitations has expired. With respect to any proposed work, City may recover against any applicable Payment Security obtained to insure that work. If City draws on any Payment Security to pay any claimant, it will notify Permittee of the amount drawn, and Permittee will promptly restore such Payment Security to Its full original amount. 4.3 Recovery. So long as any securities described in Section 4.1 and 4.2 remain in place (each an "Existing Security"), they may be utilized by the City as provided herein for reimbursement of the City by reason of Permittee's failure to pay the City for actual costs and expenses incurred by the City with respect to the Facilities, including any expenses for removal under this Permit. (a) In the event Permittee has been declared by the City to be in default of a material provision of this Permit and if Permittee fails, within 30 days of mailing of the City's default notice, to perform any of the conditions of this Permit, or fails to begin to perform any such condition that Page 5 of 24 REV: 09-17-18 PR ATTY/AGR.2018.220/Kaiser - Revocable Encroachment Permit