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Notices shall be addressed to the Contractor at: Prime Demolition, Inc P.O. Box 6452 San Pedro, CA 90734 (951) 244-3050 Attn: Charlie Quezada 3. TIME FOR COMPLETION/ CONTRACT TERM The term of this contract is from the date set forth above through June 30, 2010. All work shall be satisfactorily completed within FORTY-FIVE (45) days from the date when said work is commenced. 4. CLEANUP Contractor shall keep the premises clean and orderly during the course of the work and remove all debris upon completion of the work. Materials and equipment that have been removed and replaced as part of the work shall belong to Contractor. 4. CHARGES AND. LIENS/ PERFORMANCE BOND Contractor shall pay when due all valid charges for labor and material incurred by Contractor and. used in the construction pursuant to this Contract and shall also be responsible for keeping the job free of mechanic's liens recorded by any of the persons enumerated in California Civil Code § 3110. If Contractor fails to make any payments required pursuant to this paragraph, or if Contractor fails to keep said real property free of mechanic's liens incurred by or under Contractor or its subcontractors, City may settle said claims and Contractor shall notify the City in writing when a legitimate dispute arises between Contractor and any and all persons enumerated in California Civil Code § 3110. Contractor shall provide the City with a Payment Bond and Bond of Faithful Performance in the standard amount based on the cost of the project. Such bonds shall be executed by both the Contractor and the Surety Company to the satisfaction of the City Attorney. If Contractor fails or is unable to obtain said bond, City may obtain and record said bond and deduct the costs from any payment due Contractor. 6. CORRECTION AND DEFECTS Contractor shall correct any work that fails to conform to the requirements of this Contract or any documents pursuant thereto, where said failure to conform appears during the progress of the work. Contractor shall remedy any defects due to faulty materials, equipment or workmanship which appear within a period of one (1) year from the date of substantial completion of the work or within such longer period of time as may be prescribed by law or by the terms of any applicable special guarantee required by this Contract or any document pursuant thereto. 7. GUARANTEE Contractor guarantees the work performed for a period of one (1) year from the date of final acceptance of all the work required by this Contract, unless the work required repair or construction of a root; in which case Contractor guarantees the work for a period of five (5) years. Further, Contractor shall furnish the City, all manufacturer's and supplier's written guarantees and warranties covering materials and equipment furnished under this Contract. Contractor guarantees all materials to be as specified and all work