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work, fifty percent (50 %) of such costs and expenses for overhead and interest at the maximum rate of <br /> interest permitted by law accruing thirty (30) days from the date of billing for such work or repairs. <br /> 19. Subdivider Not Agent of City. Neither Subdivider nor any of Subdivider's agents or contractors <br /> are or shall be considered to be agents of City in connection with the performance of Subdivider's <br /> obligations under this Agreement. <br /> 20. Notice of Breach and Default. If Subdivider refuses or fails to obtain prosecution of the work, <br /> or any severable part thereof, with such diligence as will insure its completion within the time specified, or <br /> any extension thereof, or fails to obtain completion of said work within such time, or if Subdividershould be <br /> adjudged as bankrupt, or should make a general assignment for the benefit of Subdivider's creditors, or if a <br /> receiver should be appointed, or if Subdivider, or any of Subdivider's contractors, subcontractors, agents or <br /> employees should violate any of the provisions of this Agreement, the City Engineer may serve written <br /> notice on Subdivider and Subdivider's surety or holder of other security of breach of this Agreement, or of <br /> any portion, thereof, and default of Subdivider. <br /> 21. Breach of Agreement; Performance by Surety or City. In the event of any such notice of breach <br /> of this Agreement, Subdivider's surety shall have the duty to take over and complete the work and the <br /> improvement herein specified; provided, however, that if the surety, within thirty (30) days after the serving <br /> upon it of such notice of breach, does not give City written notice of its intention to take over the <br /> performance of the contract, and does not commence performance thereof within thirty (30) days after <br /> notice to City of such election, City may take over the work and prosecute the same to completion, by <br /> contract or by any other method City may deem advisable, for the account and at the expense of Subdivider <br /> and Subdivider's surety shall be liable to City for any damages and/or reasonable and documented excess <br /> costs occasioned by City thereby; and, in such event, City, without liability for so doing, may take <br /> possession of, and utilize in completing the work, such materials, appliances, plant and other property <br /> belonging to Subdivider as may be on the site of the work and necessary therefor. <br /> TRACT MAP 7092 MEDALLION PHASE 2 <br /> SUBDIVISION IMPROVEMENT AGREEMENT (PUBLIC IMPROVEMENT) <br /> C:\MAPS \TM7092\SUBIMP I .ABS <br /> PAGE 12 OF 17 <br />