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or assigns files for Bankruptcy as provided by federal law, this <br />agreement shall be immediately deemed null and void relieving all <br />parties of their contract rights and obligations. <br />9.17. Indemnification <br />The executed contract shall be subject to termination by the City at <br />any time if said bond shall be cancelled or the surety thereon relieved <br />from liability for any reason. The term of such performance bond <br />shall be for the life of the executed contract. Extensions or renewals <br />all require the execution and delivery of a performance bond in the <br />amount to cover the period of extension or renewal. <br />9.19. Conflict of Interest <br />Contractor agrees that no member, officer, or employee of the City <br />shall have any interest, direct or indirect, in the executed contract or <br />the proceeds thereof. Violation of this provision shall cause the <br />executed contract to be null and void and the Contractor will forfeit <br />any payments to be made under the executed Contract. <br />43 <br />