RecDoc 2020-042104 CONF 49 Orchard Ave.

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assumed by Developer under the terms of this Agreement, including, but not limited to, the provisions of subsection (a) above. 18.8 In the event that Developer's insurance is cancelled, Developer will provide replacement coverage or all work must cease as of the cancellation date until replacement insurance coverage is provided. 19. Compliance with Laws. Developer will comply with all federal, state and local laws, ordinances and regulations in the performance of this Agreement. Developer will, at its own cost and expense, obtain all necessary permits and licenses for the Work, give all necessary notices, pay all fees and taxes required by law and make any and all deposits legally required by those public utilities that will serve the residential development on the Property. Copies and/or proof of payment of said permits, licenses, notices, fee and tax payments and deposits will be furnished to the City Engineer upon request. 20. Encroachment Permits. Developer will obtain, at its sole cost and expense, any encroachment permits required by City in order to perform the Work. 21. Payments. Developer agrees that it will pay, when due, all those furnishing labor or materials in connection with the Work. Developer further agrees that pursuant to Government Code section 66499.7, the payment security provided by Developer in accordance with Subsection 13.1 of this Agreement will not be released if any mechanics liens or stop notices are outstanding, unless said liens are released by bond in compliance with Civil Code section 8424. 22. Notice of Breach and Default. The occurrence of any of the following constitutes a breach and default of this Agreement: 22.1 Developer refuses or fails to complete the Work within the time set forth herein or abandons the Work. 22.2 Developer assigns the Agreement without the prior written consent of City. 22.3 Developer is adjudged bankrupt or makes a general assignment for the benefit of creditors, or a receiver is appointed in the event of Developer's insolvency. 22.4 Developer or Developer's contractors, subcontractors, agents or employees, fail to comply with any terms or conditions of this Agreement. 22.5 Any delay in the construction of any portion of the Work or repairs, which in the reasonable opinion of the City Engineer, endangers public or private property. City may serve written notice of breach and default upon Developer and the financial institution holding the securities. REV: 01-09-20 PR ATTY/AGR.2020.002/49 Orchard (Page 11 of 22)