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(a) Certify in writing to MEAD by issuing a <br />Certificate of Satisfaction of Contract that <br />all of the rehabilitation work required hereunder <br />for said dwelling has been accomplished to <br />his satisfaction in accordance with the terms and <br />conditions of this agreement; or <br />(b) Specify in reasonable detail furthet7 <br />work necessary to be performed in order for him <br />to issue the Certificate of Satisfaction of <br />Contract. In the event that further work <br />is necessary, MEAD may be given a reasonable <br />time within which to perform such work <br />pursuant to paragraph 18 hereinbelow. <br />Failure by MEAD to obtain the Certificate of <br />Satisfaction of Contract within the time <br />specified in paragraph 5 above may, at <br />CITY'S option, upon written notice to MEAD, <br />be deemed a breach of this agreement by MEAD. <br />9. MEAD shall, at its sole expense, obtain all <br />necessary permits, licenses and official certificates re- <br />quired for the performance or completion of the work <br />specified hereunder. <br />lo. All work performed by and on behalf of MEAD <br />within CITY'S boundaries shall be in compliance with CITY'S <br />Building Codes, ordinances and licensing requirements. <br />prior to performing any obligation required by this agree- <br />ment, MEAD shall deposit with CITY'S Director of Building <br />Safety and housing a bond executed by MEAD, as principal, <br />and by a corporate surety company authorized to do <br />business in this state, as surety, to secure MEAD'S coven- <br />ants hereunder, which shall be in the form as attached <br />hereto and labelled 'Exhibit B," in an amount equal to the <br />cost of foundation, utility connections, street and walk <br />improvements to CITY'S standards and other requirements, <br />-4- <br />