Laserfiche WebLink
City shall not, nor shall any officer or employee thereof, be liable to or responsible for any <br /> accident, loss or damage, regardless of cause, happening or occurring to the Improvements <br /> required by this Agreement prior to the completion and acceptance of the Improvements All <br /> such risks shall be the responsibility of and are hereby assumed by Subdivider <br /> 10 Permits Subdivider shall, at Subdivider's expense, obtain all necessary permits <br /> and licenses for the construction and installation of the Improvements, and give all necessary <br /> notices and pay all fees and taxes required by law <br /> 11 Default of Subdivider <br /> a Default of Subdivider shall include, but not be limited to <br /> (1) Subdivider's failure to timely commence construction of the <br /> Improvements, <br /> (2) Subdivider's failure to timely complete construction of the Improvements, <br /> (3) Subdivider's failure to timely cure any defect in the Improvements, <br /> (4) Subdivider's failure to perform substantial construction work for a period <br /> of twenty(20) calendar days aftei commencement of the work, <br /> (5) Subdivider's insolvency, appointment of a receiver, or the filing of any <br /> petition in bankruptcy, either voluntary or involuntary, which Subdivider <br /> fails to discharge within thirty(30) days, <br /> (6) The commencement of a foreclosure action against the subdivision or a <br /> portion thereof, or any conveyance in lieu or in avoidance of foreclosure, <br /> or <br /> (7) Subdivider's failure to perform any other obligation under this Agreement <br /> b City reserves to itself all remedies available to it at law or in equity for breach of <br /> Subdivider's obligations under this Agreement City shall have the right, subject to this Section, <br /> to draw upon or utilize the appropriate security to mitigate City's damages in the event of default <br /> by Subdivider The right of City to draw upon or utilize the security is additional to and not in <br /> lieu of any other remedy available to City It is specifically recognized that the estimated costs <br /> and security amounts may not reflect the actual cost of construction or installation of the <br /> Improvements and,therefore, City's damages for Subdivider's default shall be measured by the <br /> cost of completing the required Improvements The sums provided by the Improvements <br /> security may be used by City for the completion of the Improvements in accordance with the <br /> Improvement plans contained herein <br /> c In the event of Subdivider's default under this Agreement, Subdivider authorizes <br /> City to perform such obligation twenty (20) days after mailing written notice of default to <br /> Subdivider and Subdivider's surety, and agrees to pay the entire cost of such performance by <br /> City City may take over the work and prosecute the same to completion, by contract of by any <br /> other method City may deem advisable, for the account and at the expense of Subdivider, and <br /> Subdivider's surety shall be liable to City for any excess cost of damages occasioned City <br /> thereby In such event, City, without liability for so doing, may take possession of, and utilize in <br /> I 1ca1djmlAgreementslSubdivtsion improvement Agreement TNI 18988 rbc <br />