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4.1.3 Report of recycling information which includes estimated amount by weight of recyclable <br />materials collected. <br />4.1.4 Report of solid waste collected by estimated weight. <br />Section 4.2 The Contractor will retain all records and supporting documentation applicable to this <br />Contract, and not delivered to the City, for a period of three years except in the event that the Contractor <br />goes out of business, it will deliver to the City all of its records relating to this Contract for retention by <br />the City. <br />ARTICLE 5 <br />TERM OF CONTRACT <br />Section 5.1 Contract Term <br />5.1.1 The term of this Contract will begin on July 1, 2008, and will end on June 30, 2013. The Contractor <br />will begin collection of residential solid waste and recyclable materials from residential units as of July 1, <br />2008. <br />5.1.2 The contract term may be extended for two additional five-year periods, provided all terms and <br />conditions remain in full force and effect except for the Contract being extended, and a modification to <br />rates as specified in Section 3.3 of this Contract. Each of these options, if exercised, is to be executed in <br />the form of a letter agreement no sooner than 180 days prior to expiration of the Contract, nor later than <br />the final day of the contract period. These options require the mutual agreement of the City and the <br />Contractor. Refusal by either party to exercise an option to renew will cause the Contract to expire on the <br />original or mutually agreed upon date. The total period of the Contract, including the extension as a result <br />of exercising these options, will not exceed a maximum combined period of 15 years. <br />Section 5.2 Breach/Default <br />Failure by either party to this Contract to perform any of its provisions will constitute a breach of <br />Contract, in which case, either party may require corrective action within ten business days from date of <br />receipt of written notice citing the exact nature of such breach. Failure to take corrective action or failure <br />to provide a satisfactory written reply excusing such failure within the prescribed ten days will constitute <br />a default of Contract. The defaulting party will be given a 20 day period within which to show cause why <br />the Contract should not be terminated for default. The City Council may take whatever action as its <br />interest may appear, resulting from such notice. The City reserves the right to enforce the performance of <br />the Contract in any manner prescribed by law in the event of breach or default of the Contract, and may <br />contract with another party with or without solicitation of proposals or further notification to the <br />Contractor. At a minimum, the Contractor will be required to pay any difference in the cost of securing <br />the services covered by this Contract, or compensate for any loss or damage to the City derived hereunder <br />should it become necessary to contract with another source because of this default, plus reasonable <br />administrative costs and attorney's fees. In the event of termination, the City, its agents or representatives, <br />will not be liable for loss of any profits anticipated to be made under this Contract. <br />Section 5.3 Termination by City <br />The City reserves the right to terminate this Contract upon a minimum of 30 days written notice for any <br />reason deemed by City Council to serve the public interest, or resulting from any governmental law, <br />18