Not later than thirty (30) days after the mailing of notification to the Franchisee of drawing pursuant to the above subsections, the Franchisee shall cause the Letter of Credit to be restored to the full amount required hereby. Failure to effect timely restoration of the Letter of Credit shall constitute a material breach of this Agreement.
Upon revocation of this Agreement under conditions other than those stipulating forfeiture of the Letter of Credit, the Letter of Credit shall be delivered to the Franchisee within ninety (90) days of such termination, provided there was no outstanding default on the part of the Franchisee.
Franchisee shall obtain and maintain in full force and effect and for the full amount prescribed commercial or comprehensive general liability policies, and comprehensive auto liability insurance policies, in accordance with the provisions of Section 10.27.320 of Chapter 10.27.
Franchisee shall maintain a construction bond in accordance with Section 10.27.320(b) of Chapter 10.27. The amount of the bond shall be up to one hundred percent (100%) of the estimate cost of the planned construction, such amount to be set by the City.
In addition to the penalties prescribed in Section 10.27.660 of Chapter 10.27, the City may also find the Franchisee in forfeiture of a sum equal to one-twelfth (1/12) of the construction bond for each month construction is completed late. This shall be measured with respect to the date construction was due to be completed; however, this provision may not take effect until construction is six (6) months overdue. The procedure for the assessment of this forfeiture shall be consistent with the procedure outline in Section 21 of this Agreement.
Failure to comply with the provisions of Section 10.27.320 of Chapter 10.27 shall constitute a material breach of this Agreement.
The Franchisee shall submit to the City copies of all pleadings, applications, reports, communications or documents of any kind, except tax returns, submitted by the Franchisee to, as well as copies of all decisions, correspondence and actions by, any Federal, state or local courts, regulatory agencies or any other governmental bodies which may materially impact its obligations under Chapter 10.27 or this Agreement. Franchisee shall submit such documents to the City simultaneously with their submission to such courts, agencies and bodies; and within five (5) days after receipt from such courts, agencies and bodies. At the time of submittal, Franchisee may petition City for a grant of confidentiality pursuant to RCW 42.17.310, to the extent permitted by law.
Any materially false or misleading statement, omission, or representation made knowingly by the Franchisee in any report required by this Agreement or by Chapter 10.27 shall be deemed a material breach of this Agreement and shall subject the Franchisee to all measures, legal or equitable, which are available to the City under this Agreement or otherwise.