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shall be borne by the contractor as a penalty for failure to complete <br /> the work within the specified time. All contracts for local improve- <br /> ments shall provide that at least thirty percent of the amount due <br /> on estimates shall be retained to secure the payment of laborers <br /> who have performed work thereon, and materialmen who have furnished <br /> material therefor, and such laborers and materialmen shall have <br /> thirty days after the work has been completed to file a claim <br /> against such thirty per cent so reserved for labor done or material <br /> furnished. No contract shall be considered as completed until the <br /> Commissioner of Public Works shall file his final estimate and <br /> approval of such work. No contract for the making of any public <br /> improvement under this ordinance shall be assigned, transferred or <br /> sub-let, except for materials , in any manner, without first having <br /> endorsed thereon the consent of the Commissioner of Public Works <br /> and the sureties on the contractor' s bond, and no transfer or <br /> assignment thereof shall in any wise effect such bond or the liab- <br /> ility of the sureties thereon, and any assignment or transfer of any <br /> such contract without such consent and waiver endorsed thereon, <br /> except by operation of law, shall make the same null and void as to <br /> any further performance thereof by the contractor, or his assigns , <br /> without any act on the part of the City Council. If any such con- <br /> tract shall for any reason become ended or void, or shall be abandon- <br /> ed, the City Council may re-let such contract, or complete the same <br /> as the agent and at the expense of such contractor and his sureties. <br /> No assignment, transfer, abandonment or surrender of any such con- <br /> tract, nor any change in any such oontrac t, nor any extension of <br /> time in which to complete any such contract, shall ever operate to <br /> release sureties on any bond provided for in this ordinance. Any <br /> contractor desiring an extension of time for the completion of any <br /> work under any contract shall make a written application to the <br /> Commissioner of Public Works for such extension of time, and shall <br />