Agmt08 Keech Properties LLC - Laserfiche WebLink

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caused to be constructed by Owner, or any of the work done under this Agreement, fails to fulfill any of the requirements of this Agreement, or the plans and specifications referenced herein, Owner shall upon receipt of a request in writing from City directing the work to be done, without delay and without any cost to City, repair or replace or reconstruct any defective or otherwise unsatisfactory part or parts of the Improvements or work. Should Owner fail to act promptly to make such repair, replacement or reconstruction, or otherwise to act in accordance with this requirement to repair, replace or reconstruct, or should the exigencies of the case require that repair, replacement or reconstruction be made before Owner can be notified, the City may, at its option, make the necessary repair, replacement or reconstruction or perform the necessary work and Owner shall pay the City the actual cost thereof, plus fifteen percent (15%). Notwithstanding any provisions to the contrary as set forth in this Agreement, Owner shall not be responsible for repair, replacement, or reconstruction of any Improvements, damaged by Acts of God, acts of third parties (other than Owner, its agents, employees or contractors) beyond Owner's ability to control, civil emergencies, natural disasters, or similar acts or events. 9. SECURITY TO INSURE GUARANTEE. Owner agrees, as a condition precedent to City's acceptance of any of the Improvements which are the subject of this Agreement, to furnish and file with the City Clerk a bond or deposit in the amount of Six hundred one thousand two hundred and No/100 Dollars ($601,200.00) for all expressly conditioned Improvements to secure Owner's compliance with the provisions of Paragraph 8 hereof, for a period of one (1) year after final acceptance of the work done under this Agreement. -8-