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and section 12 . A "reasonable period" as used herein shall be <br /> deemed to be not less than seven ( 7 ) calendar days, unless <br /> the material default endangers the public health and safety. <br /> CONTRACTOR' S failure to perform by reason of an employee 's strike <br /> or similar labor dispute shall not be deemed a default entitling <br /> the CITY to cancel this Contract. <br /> B . In the event CONTRACTOR claims default by CITY <br /> in the payment of any money due or alleged to be due to CONTRACTOR <br /> pursuant to this Agreement, CONTRACTOR shall not be entitled to <br /> cancel this Agreement if the CITY, within seven ( 7 ) days after <br /> receipt of notice of the claimed default , deposits the amount <br /> in controversy into an interest bearing account in a commercial <br /> bank or lending institution and maintains such deposit until such <br /> time as a final judicial decision or agreement between the parties <br /> determines the rightful disposition of the said amount in contro- <br /> versy; provided that CONTRACTOR shall be deemed to have waived <br /> all claims to the said amount if no agreement is reached nor any <br /> legal proceedings initiated within ninety ( 90 ) days of the <br /> CONTRACTOR' S service of notice of default on the CITY. <br /> 12 . Use by CITY of CONTRACTOR' S Equipment : <br /> Upon cancellation of the Contract by either party for <br /> any reason prior to the end of the period specified herein as <br /> the term of the Contract , the CITY shall have the exclusive right <br /> to rent or lease and operate any or all trucks, trailers , tractors <br /> and other items of equipment used by CONTRACTOR in the performance <br /> of the work specified in these specifications. The right of the <br /> 12 . <br />