RE-BID ITB # 23-10-01 JOINT PROCUREMENT CENTRAL ISLAND

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ITB 23-03-01 Sunny Isles Beach Central Island Area Drainage Improvement and North Miami Beach Distribution System Watermain Replacements 17.3.1 If after notice of termination of CONTRACTOR’s right to proceed, it is determined for any reason that CONTRACTOR was not in default, the rights and obligations of the CITY and CONTRACTOR shall be the same as if the notice of termination had been issued pursuant to the Termination for Convenience Clause as set forth in Section 17.5 below. 17.3.2 Upon receipt of Notice of Termination pursuant to Sections 17.2 or 17.5, CONTRACTOR shall promptly discontinue all affected work unless the Notice of Termination directs otherwise and deliver or otherwise make available to CITY all data, drawings, specifications reports, estimates, summaries and such other information as may have been required by the Contract Documents whether completed or in process. 17.4 If the CONTRACTOR commits a default due to its insolvency or bankruptcy, the following shall apply: 17.4.1 Should this Agreement be entered into and fully executed by the parties, funds released and the CONTRACTOR (Debtor) files for bankruptcy, the following shall occur: 17.4.1.1 In t he event the Contactor files a voluntary petition under 11 U.S.C.301 or 302, or an order for relief is entered under 11 U.S.C. 303, the CONTRACTOR shall acknowledge the extent, validity, and priority of the lien recorded in favor of the CITY. The CONTRACTOR further agrees that in the event of this default, the CITY shall, at its option, be entitled to seek relief from the automatic stay pursuant to 11 U.S.C. 362. The CITY shall be entitled to relief from the automatic stay pursuant to 11 U.S.C. 362(d) (1) or (d) (2), and the Contactor agrees to waive the notice provisions in effect pursuant to 11 U.S.C. 362 and any applicable Local Rules of the United States Bankruptcy Court. The Contactor acknowledges that such waiver is done knowingly and voluntarily. 17.4.1.2 Agreement constitutes an executory contract within the meaning of 11 U.S.C. 365. The CONTRACTOR acknowledges that this Agreement is not capable of being assumed pursuant to 11 U.S.C. 365(c) (2), unless the CITY expressly consents in writing to the assumption. In the event the CITY consents to the assumption, the CONTRACTOR agrees to file a motion to assume this Agreement within ten (10) days after receipt of written consent from the CITY, regardless of whether the bankruptcy proceeding is pending under Chapter 7, 11, or 13 of Title 11 of the United States Code. The CONTRACTOR further acknowledges that this Agreement is not capable of being assigned pursuant to U.S.C. 365(b) (1). 17.5Termination for Convenience: This Agreement may be terminated for convenience in writing by CITY upon thirty (30) days written notice to CONTRACTOR (delivered by certified mail, return receipt requested) of intent to terminate and the date on which such termination becomes effective. In such case, CONTRACTOR shall be paid for all work executed and expenses incurred prior to termination. In addition to termination settlement costs PAGE 31OF 38