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contractor shall provide City with a performance bond naming City as o'bligee in the amount <br />equal to one hundred percent (100%) of the value of the work to be performed under each <br />phase of each Encroachment Permit by or on behalf of Level 3 or its contractor within and <br />affecting the Public Right-of-Way to guarantee and assure the faithful performance of Level 3's <br />or its contractor's obligations under this Agreement. City shall have the right to draw against the <br />performance bond in the event of a default by Level 3 or its contractor or in the event that Level <br />3 or its contractor fails to meet and fully perform any of its obligations; provided that Level 3 or its <br />contractor is first given written notice of any intent to draw against the bond and an opportunity to <br />cure. Following completion ofl the- work by Level 3 or its contractor and its inspection and <br />acceptance by the Director, the performance bond shall remain in effect to the extent of ten <br />percent (10%) of the value of the work performed under each Encroachment Permit to <br />guarantee and assure that faithful performance of Level 3's obligations under this Agreement for <br />a period of one (1) year from the City's acceptance of the work performed under each <br />Encroachment Permit. City shall have the right to draw against the bond in the event of a default <br />by Level 3 or its contractor or in the event that Level 3 or its contractor fails to meet and fully <br />perform any of its obligations. The form of the performance bond shall be furnished and <br />approved by the City. <br /> <br />11. DamaRe to Facilities in Public Ri,qht-of-Wa¥ or on Private Property. <br /> <br /> (a) Level 3 shall be responsible for any damage to City street pavements, existing <br /> <br />utilities, curbs, gutters, sidewalks or to any private property or improvements to the extent <br />attributable to its installation, maintenance, repair or removal of its Fiber Optic Network Facilities <br />in Public Right-of-Way and shall repair, replace and restore in kind any such damaged facilities <br />at its sole expense and to the approval of City. <br /> <br /> (b) Any premature deterioration of the surface or subsurface improvements as <br /> <br />determined by City shall be the responsibility of Level 3 to the extent attributable to Level 3's <br /> <br />F:Atty/Agr.076 13 <br />100702 <br /> <br /> <br />