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provisions. This contract shall be subject to immediate <br />cancellation by the city at any time if said bond shall be <br />cancelled or the surety thereon relieved from liability <br />because of failure to pay the premium or termination of the <br />period of the bond without renewal thereof. <br /> <br />12. INDEM~;IFICATION <br /> <br />The Contractor shall indemnify and hold harmless the city <br />and its officers, agents and employees from and against all <br />claims, damages, losses or expenses, including attorney <br />fees, for which it may be held liable, arising out of or <br />resulting from the assertion against them of any claims, <br />debts or obligations in consequence of the performance of <br />this agreement by the Contractor, its employees, agents or <br />subcontractors. <br /> <br />13. TERMINATION <br /> <br />The City shall have the right to terminate this contract if <br />in the city's opinion there has been a breach of terms by <br />the Contractor. Upon termination of this contract neither <br />party nor the officers or employees of the city shall be <br />liable for further performance. <br /> <br />14. PENALTIES AND DAMAGES <br /> <br />Failure by the Contractor to perform under this <br />contract, may result in its termination and/or cash <br />claims by the city for damages. <br /> <br />In the event breach of this contract by Contractor, or <br />proven negligence by the Contractor, the Contractor <br />agrees to pay, in addition to the actual damages <br />sustained by the city as a result thereof, the <br />reasonable attorney's fees incurred by the City in <br />pursuing any of its rights under this contract. <br /> <br />15. SUCCESSORS AND ASSIGNS <br /> <br />The Contractor binds itself, its successors, executors, <br />administrators and assigns to the city in respect to all <br />covenants of this contract, except that the Contractor shall <br />not assign or transfer any part of its interest in this <br />contract nor shall the Contractor assign any monies due, or <br />to become due, without the city's written consent. <br /> <br />16. AMENDMENT, MODIFICATION OR WAIVER <br /> <br />No amendment, modification, or waiver of any condition, <br />provision, or term of this contract shall be valid or of any <br />effect unless made in writing, signed by the party or <br /> <br /> <br />