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<br />DES:djk f)1/24/97 <br /> <br />(027a/70) <br /> <br />fulfill any of the requirements of this Agreement, or the plans <br /> <br />and specifications referenced herein, Owner shall upon receipt of <br /> <br />a request in writing from City directing the work to be done, <br /> <br />without delay and without any cost to City, repair or replace or <br /> <br />reconstruct <br /> <br />any <br /> <br />defective <br /> <br />or <br /> <br />otherwise <br /> <br />unsatisfactory <br /> <br />part <br /> <br />or <br /> <br />parts <br /> <br />of <br /> <br />the <br /> <br />Improvements <br /> <br />or work. <br /> <br />Should Owner <br /> <br />fail <br /> <br />to <br /> <br />act <br /> <br />promptly to make such repair, replacement or reconstruction, or <br /> <br />otherwise to act in accordance with this requirement to repair, <br /> <br />replace <br /> <br />or <br /> <br />reconstruct, <br /> <br />or <br /> <br />should <br /> <br />the <br /> <br />exigencies <br /> <br />of <br /> <br />the <br /> <br />case <br /> <br />require that repair, replacement or reconstruction be made before <br /> <br />Owner can be <br /> <br />notified, <br /> <br />the City may, <br /> <br />at <br /> <br />its <br /> <br />option, <br /> <br />make <br /> <br />the <br /> <br />necessary repair, <br /> <br />replacement or reconstruction or perform the <br /> <br />necessary work and Owner shall pay to City the actual cost of <br /> <br />in this Agreement, <br /> <br />Owner <br /> <br />shall <br /> <br />not be responsible <br /> <br />for repair, <br /> <br /> <br />thereof plus fifteen percent (15%). <br /> <br />Notwithstanding any provision to the contrary as set forth <br /> <br />replacement, or reconstruction of any Improvements, necessitated <br /> <br />by Acts <br /> <br />of God, <br /> <br />acts <br /> <br />of <br /> <br />third parties <br /> <br />(other than Owner, <br /> <br />its <br /> <br />agents, <br /> <br />employees <br /> <br />or <br /> <br />contractors) <br /> <br />beyond <br /> <br />Owner's <br /> <br />ability <br /> <br />to <br /> <br />control, civil emergencies, natural disasters, or similar acts or <br /> <br />events. <br /> <br />9. <br /> <br />SECURITY <br /> <br />TO <br /> <br />INSURE <br /> <br />GUARANTEE. <br /> <br />Owner <br /> <br />agrees, <br /> <br />as <br /> <br />a <br /> <br />condition <br /> <br />precedent <br /> <br />to <br /> <br />City's <br /> <br />acceptance <br /> <br />of <br /> <br />any <br /> <br />of <br /> <br />the <br /> <br />Improvements which are the subject of this Agreement, to furnish <br /> <br />and file with the City Clerk a bond or deposit in the amount of <br /> <br />Eighty-eight <br /> <br />Thousand <br /> <br />and <br /> <br />No/100 <br /> <br />Dollars <br /> <br />($88,000.00) <br /> <br />for <br /> <br />all <br /> <br />expressly conditioned Improvements to secure Owner's compliance <br /> <br />wi th the provisions of Paragraph 8 hereof, <br /> <br />for a period of one <br /> <br />7 <br />