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If City, at its sole option, makes or causes to be made the necessary repairs or replacements or <br />performs the necessary work, Owner shall pay, in addition to actual costs and expenses of such repair or <br />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 (3 0) days from the date of billing for such work or repairs. <br />19. Owner Not Agent of City. Neither Owner nor any of Owner's agents or contractors are or <br />shall be considered to be agents of City in connection with the performance of Owner's obligations under <br />this Agreement. <br />20. Notice of Breach and Default. If Owner refuses or fails to obtain prosecution of the <br />work, or any severable part thereof, with such diligence as will insure its completion within the time <br />specified, or any extension thereof, or fails to obtain completion of said work within such time, or if Owner <br />should be adjudged as bankrupt, or should make a general assignment for the benefit of Owner's creditors, <br />or if a receiver should be appointed, or if Owner, or any of Owner'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 Owner and Owner's surety or holder of other security of breach of this Agreement, or of any <br />portion, thereof, and default of Owner. <br />21. Breach of Agreement, Performance bSurety or City. In the event of any such notice of <br />breach of this Agreement, Owner'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 Owner and <br />Owner's surety shall be liable to City for any damages and/or reasonable and documented excess costs <br />occasioned by City thereby; and, in such event, City, without liability for so doing, may take possession of, <br />STANDARD PUBLIC IMPROVEMENT AGREEMENT Page 11 of 14 <br />