Agmt98 Irvine Apartment ... (2) - Laserfiche WebLink

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without any cost to City, repair or replace or reconstruct any defective or otherwise unsatisfactory part or parts of the Street Improvements or work. Should Irvine 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 Irvine can be notified, City may, at its option, make the necessary repair, replacement, or reconstruction or perform the necessary work, and Irvine shall pay to City the actual cost of thereof plus fifteen (15) percent. Notwithstanding any provision to the contrary in this agreement, Irvine shall not be responsible for repair, replacement, or reconstruction of the Street Improvements necessitated by Acts of God, acts of third parties (other than Irvine, its agents, employees, or contractors) beyond Irvine's ability to control, civil emergencies, natural disasters, or similar acts or events, normal wear and tear excepted. 9. Security to Insure Guarantee. Irvine agrees, as a condition precedent to City's acceptance of the Street Improvements, to furnish and file with the City Clerk a bond or deposit in the amount of Fifty-three Thousand Nine Hundred Dollars ($53,900) expressly conditioned to secure Irvine's compliance with the provisions of Paragraph 8, for a period of one (1) year after final acceptance by City of the Street Improvements. G:~shared~Redwood\Council 8 Agmt-142 DE$:rg 03/09/98;03/13/98R ,04/10/98R; 05/07/98RRR:O6.101/98RRRR