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installation, and tree installation. The Owner agrees to perform any necessary adjustments as <br />reasonably required by the City, in the sole discretion of the City Engineer or her designee, as a <br />result of such inspections. The failure of Owner to comply with this Section 1 shall be a material <br />breach of this Agreement. <br />3. Permits <br />It shall be Owner's sole responsibility and expense to obtain all permits associated with the <br />construction and installation of the Dedicated Improvements in the R.O.W. and to comply with all <br />applicable laws. Owner's failure to comply with this Section 2 shall be a material breach of this <br />Agreement. <br />4. Performance Bond <br />Concurrently upon the execution of this Agreement or within seven (7) days thereof, Owner <br />shall provide the City with a performance bond for an amount equal to one hundred twenty—five <br />percent (125%) of the construction cost covering all work performed or to be performed pursuant <br />to this Agreement. Owner's failure to provide the performance bond as prescribed herein shall <br />cause this Agreement to be immediately terminated and of no effect, without the requirement of <br />notice. <br />5. Maintenance Bond <br />Within ten (10) days of City's acceptance of the Dedicated Improvements, Owner shall <br />provide the City with a maintenance bond equal to ten percent (10%) of the construction cost <br />covering all work performed or to be performed pursuant to this Agreement, and such bond shall <br />remain in effect for three (3) years after dedication as described in Section 6 below. <br />