|
Tire Lease Agreement IFB TR 2025-01
<br /> The City may terminate this Agreement, in whole or in part, at any time by written notice to Bridgestone
<br /> when it is in the City's best interest. If this Agreement is terminated,then the City shall be liable only for
<br /> payment under the payment provisions of this Agreement for services rendered before the effective date
<br /> of termination and include the remaining value of tread on leased tires mounted on buses and in spare
<br /> stock.
<br /> If Bridgestone fails to perform in the manner called for in the Agreement,or if Bridgestone fails to
<br /> comply with any other material provisions of the Agreement,the City may terminate this Agreement for
<br /> default. Termination shall be effected by serving a notice of termination on Bridgestone setting forth the
<br /> way Bridgestone is in default. Bridgestone shall only be paid the contract price for services performed in
<br /> accordance with the manner of performance set forth in the Agreement and including the remaining value
<br /> of tread on leased tires mounted on buses and in spare stock. If it is later determined by the City that
<br /> Bridgestone had an excusable reason for not performing, such as a strike,fire, or flood, events which are
<br /> not the fault of or are beyond the control of Bridgestone,the City,after setting up a new performance
<br /> schedule,may allow Bridgestone to continue work,or it may treat the termination as a termination for
<br /> convenience.
<br /> In the case of a termination for breach or default,the City shall allow Bridgestone an opportunity to cure
<br /> the defect. In such case,the notice of termination shall state the time in which cure is permitted and all
<br /> other appropriate conditions. The time in which cure is permitted shall be no less than ten(10)days and
<br /> no more than thirty(30)days following receipt by Bridgestone of written notice from the City setting
<br /> forth the nature of said breach or default. If Bridgestone fails to remedy to the City's satisfaction the
<br /> breach or default of any of the terms,covenants, or conditions of this Agreement within the specified time
<br /> in which cure is permitted,the City shall have the right to terminate the Agreement without any further
<br /> obligation to Bridgestone. Any such termination for default shall not in any way operate to preclude the
<br /> City from also pursuing all available remedies against Bridgestone and its sureties for said breach or
<br /> default.
<br /> If the City elects to waive its remedies for any breach by Bridgestone of any covenant,term or condition
<br /> of this Agreement,then such waiver by the City shall not limit the City's remedies for any succeeding
<br /> breach of that or of any other term,covenant,or condition of this Agreement.
<br /> 12. TITLE.The title to,and ownership of,all tires,and equipment, if any,furnished under this Agreement
<br /> shall remain with Bridgestone until the City, if required to do so hereunder, has made complete payment
<br /> therefore. The City agrees to assume the responsibility for the safekeeping of all such tires and any such
<br /> equipment,and to reimburse Bridgestone for any loss resulting from the City's failure to keep such tires
<br /> and equipment safe.
<br /> 13.ASSIGNMENT.Neither party shall sell,transfer,sublease,assign or otherwise dispose of or
<br /> encumber in any way any of its rights or interests under this Agreement, in whole or in part,to any other
<br /> person,corporation,partnership or authority,without the prior written consent of the other party,which
<br /> consent shall not be unreasonably withheld. In the event of any such sale,transfer, sublease, assignment,
<br /> etc.with the other party's consent, Bridgestone and the City and their respective partners, successors,
<br /> heirs, executors,administrators,assigns and legal representatives shall remain fully bound by the terms
<br /> and provisions of this Agreement.
<br /> 14. LIABILITY LIMITATION.Notwithstanding any other provision of this Contract to the contrary,
<br /> neither Bridgestone nor the City shall be liable to the other party under any circumstances for lost profits
<br /> or incidental,punitive,exemplary,special, indirect or consequential damages arising under, relating to, or
<br /> 6
<br />
|