Reso 1998-008 - Laserfiche WebLink

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maximum rate of interest permitted by law accruing thirty (30) days from the date of billing for such work or repairs. 19. Subdivider Not Agent of City. Neither Subdivider nor any of Subdivider's agents or contractors are or shall be considered to be agents of City in connection with the performance of Subdivider's obligations under this Agreement. 20. Notice of Breach and Default. If Subdivider refuses or fails to obtain prosecution of the work, or any severable part thereof, with such diligence as will insure its completion within the time specified, or any extension thereof, or fails to obtain completion of said work within such time, or if Subdivider should be adjudged as bankrupt, or should make a general assignment for the benefit of Subdivider's creditors, or if a receiver should be appointed, or if Subdivider, or any of Subdivider's contractors, subcontractors, agents or employees should violate any of the provisions of this Agreement, the City Engineer may serve written notice on Subdivider and Subdivider's surety or holder of other security of breach of this Agreement, or of any portion, thereof, and default of Subdivider. 21. Breach of Agreement* Performance by Surety or City. In the event of any such notice of breach of this Agreement, Subdivider's surety shall have the duty to take over and complete the work and the improvement herein specified; provided, however, that if the surety, within thirty (30) days after the serving upon it of such notice of breach, does not give City written notice of its intention to take over the performance of the contract, and does not commence performance thereof within thirty (30) days after notice to City of such election, City may take over the work and prosecute the same to completion, by contract or by any other method City may deem advisable, for the account and at the expense of Subdivider and Subdivider's surety shall be liable to City for any C.W"S\PM6662\SUBIMPAG.DOC 14