ILLUMINATION FOUNDATION (40) - Laserfiche WebLink

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legal and accounting fees, insurance, architects' and engineers' fees, loan fees, interest during construction and contractors' overhead. 8.5 Protection Against Liens: Grantee shall diligently file a valid Notice of Completion upon completion of the construction, diligently file a notice of cessation in the event of a cessation of labor on the construction for a period of thirty(30) days or more, and take all actions reasonably required to prevent the assertion of claims of lien against the Property. In the event that any claim of lien is asserted against the property or any stop notice or claim is asserted against the City by any person furnishing labor or materials to the Property, Grantee shall immediately give written notice of the same to City and shall,promptly and in any event within ten (10)Business Days after written demand therefor, (a)pay and discharge the same, (b) effect the release thereof by delivering to City a surety bond complying with the requirement of applicable laws for such release, or(c) take such other action as City may require to release City from any obligation or liability with respect to such stop notice or claim. 8.6 Labor Requirements. (a) Compliance with Community Workforce Agreement. Grantee agrees to comply with the City's Community Workforce Agreement as required by the City. (b) Prevailing Wages. (i) GRANTEE IS AWARE OF THE REQUIREMENTS OF LABOR CODE § 1720 ET SEQ., AND 1770, ET SEQ.,AS WELL AS CALIFORNIA CODE OF REGULATIONS, TITLE 8, SECTION 16000,ET SEQ. ("PREVAILING WAGE LAWS"), WHICH REQUIRE THE PAYMENT OF PREVAILING WAGE RATES AND THE PERFORMANCE OF OTHER REQUIREMENTS ON"PUBLIC WORKS"AND "MAINTENANCE" PROJECTS, AS DEFINED BY PREVAILING WAGE LAWS. GRANTEE AGREES THE PROJECT IS A"PUBLIC WORK" SUBJECT TO PREVAILING WAGE LAWS AND THAT GRANTEE SHALL FULLY COMPLY WITH THE PREVAILING WAGE LAWS. GRANTEE IS RESPONSIBLE TO OBTAIN A COPY OF THE PREVAILING RATES OF PER DIEM WAGES IN EFFECT AT THE COMMENCEMENT OF THIS AGREEMENT. GRANTEE SHALL MAKE COPIES OF THE PREVAILING RATES OF PER DIEM WAGES FOR EACH CRAFT, CLASSIFICATION OR TYPE OF WORKER NEEDED TO CONSTRUCT THE PROJECT, AND SHALL POST COPIES AT THE GRANTEE'S PRINCIPAL PLACE OF BUSINESS AND THE PROPERTY. GRANTEE SHALL MAINTAIN A BOND TO SECURE THE PAYMENT OF CONTRACTORS AT PREVAILING WAGE RATES IN ACCORDANCE WITH CALIFORNIA LABOR CODE § 1781. (ii) GRANTEE ASSUMES ANY AND ALL RESPONSIBILITY AND SHALL BE SOLELY RESPONSIBLE FOR COMPLIANCE WITH REQUIREMENTS TO PAY PREVAILING WAGE RATES FOR EACH LABOR CLASSIFICATION, AS DETERMINED BY THE STATE, PURSUANT TO LABOR CODE SECTIONS 1720, ET SEQ. (c) Release and Waiver.