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application for payment process and schedule established under the General Contract. The Owner recognizes that the Surety shall be completing the Remaining Work through the services of one or more Completing Contractors. Accordingly, all representations and certifications with respect to all aspects of the Work, progress of the Work, quality of the Work, conformance of the Work to the requirements of the General Contract, payments to others, warranty and maintenance of the Work, and all other matters pertinent to the General Contract, wherever such representations are required by the General Contract, shall be deemed to be representations and certifications made by the Surety with knowledge of the facts contained in the representations and certifications. 15. Payments to the Surety. All payments shall be made directly to the Surety by check payable to the Surety, at the address stated in paragraph 17 of this Agreement. 16. Satisfaction of the Surety's Performance Obliaation. Final Completion of the Remaining Work and the completion of the obligations contained in the General Contract, including obligations for warranty, indemnity and latent defects, or the expenditure by the Surety of the Performance Bond Penal Amount in accordance with the Surety's obligations under that Bond, whichever comes first, shall satisfy the Surety's performance obligations under the General Contract, its Performance Bond and this Agreement. The Owner represents that the Contractor would have been required to complete all of its obligations under the General Contract, including the Remaining Work had it not been in default. 17. Notices. All notices and correspondeDce to Owner shall be mailed certified mail, return receipt requested, with a copy by telecopier, to: The City of Redwood City Attn: Peter Ingram, City Manager 1017 Middlefield Road Redwood City, CA 94063 Also Brian Lee, Acting Supervisory Civil Engineer, Engineering & Construction 1017 Middlefield Road Redwood City, CA 94063 Phone: (650) 780-7391 Fax: (650) 780-7309 All notices and correspondence to the Surety shall be mailed certified mail, return receipt requested, with a copy by fax to: Richard E. Towle Manager - Surety & Political Risk Claims Chubb Group of Insurance Companies 15 Mountain View Rd. TAKEOVER AGREEMEN1- Page 6 of 9 {7672.005-00232947; 1} 1175334v6 33786/0010