Agmt98 Martin Campus Associates - Laserfiche WebLink

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of this Agreement, or the plans and specifications referenced herein, Owners 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 Owners 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 Owners can be notified, the City may, at its option, make the necessary repair, replacement or reconstruction or perform the necessary work and Owners shall pay the City the actual cost of thereof plus fifteen percent (15%). Notwithstanding any provisions to the contrary as set forth in this Agreement, Owners shall not be responsible for repair, replacement, or reconstruction of any Improvements, necessitated by Acts of God, acts of third parties (other than Owners, its agents, employees or contractors) beyond Owners' ability to control, civil emergencies, natural disasters, or similar acts or events. 9. SECURITY TO INSURE GUARANTEE. Owners agree, 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 One Hundred Twenty-tow Thousand and No/100 Dollars ($122,00.00) for all expressly conditioned Improvements to secure Owners' compliance with the provisions of Paragraph 8 hereof, for a pedod of one (1) year after final acceptance of the work done under this Agreement. 10. DEPOSIT FOR PLAN CHECK AND INSPECTION. Owners shall deposit with City the sum of Forty-six Thousand Forty and No/100 Dollars ($46,040.00) and No/100 Dollars ("Deposit"), less all amounts previously paid City by Owners for such services, to compensate City for all engineering, inspection, plan check, laboratory and field testing, construction, and other ~,ervices furnished by City in connection with the Improvements for the said subdivision.