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(b) To provide monetary remedies or to satisfy damages assessed <br />against Licensee due to a material breach of this Agreement. <br />8.3 Restoration of the Bond. Licensee must deposit a sum of money or a replacement <br />instrument sufficient to restore the performance bond to its original amount within 30 days after <br />written notice from the Licensor that any amount has been recovered from the performance bond. <br />Failure to restore the bond to its full amount within thirty (30) days will constitute a material breach <br />of this Agreement. Licensee will be relieved of the foregoing requirement to replenish the bond <br />during the pendency of an appeal from the Licensor's decision to draw on the performance bond. <br />8.4 Required Endorsement. The performance bond is subject to the approval of the <br />Licensor and must contain the following endorsement: <br />"This bond may not be canceled until sixty (60) days after receipt <br />by the Licensor, by registered mail, return receipt requested, of a <br />written notice of intent to cancel or not to renew. " <br />8.5 Reservation of Licensor Rights. The rights reserved by the Licensor with respect <br />to the performance bond are in addition to all other rights and remedies the Licensor may have <br />under this Agreement or any other law. <br />8.6 Admitted Surety Insurer. The surety supplying the bond shall be an "admitted <br />surety insurer", as defined in California Code of Civil Procedure Section 995.120 and authorized <br />to do business in the State of California. <br />8.7 Cash Deposit. In lieu of obtaining a performance bond, Licensee shall have the <br />right to instead deposit a cash deposit with Licensor securing Licensee's obligations under this <br />Agreement. <br />9. INSURANCE. Licensee shall obtain and maintain at all times during the term of this <br />Agreement insurances of the types and in the amounts specified by Licensor not more than once <br />each five (5) years and with sixty (60) days' written notice to Licensee, or if not specified, the <br />amounts in this Section 9: Commercial General Liability insurance per ISO form CG 0001 (or its <br />equivalent) with a limit of two million dollars ($2,000,000) per occurrence for bodily injury and <br />property damage and five million dollars ($5,000,000) general aggregate including premises - <br />operations, contractual liability, personal injury and products completed operations; and <br />Commercial Automobile Liability insurance covering all owned non -owned and hired vehicles <br />with a limit of one million dollars ($1,000,000) each accident for bodily injury and property <br />damage. As respects this Agreement, the Commercial General Liability insurance policy shall <br />include the Licensor, its council members, officers, and employees as additional insured as <br />respects any covered liability caused, in whole or part, by Licensee's performance of work under <br />this Agreement. Coverage shall be in an occurrence form and in accordance with the limits and <br />provisions specified herein. Upon receipt of notice from its insurer, Licensee shall use its best <br />efforts to provide the Licensor with thirty (30) days prior written notice of cancellation of any <br />required coverage that is not replaced. Licensee shall be responsible for notifying the Licensor of <br />such change or cancellation. <br />Page 16 of 23 <br />25B-18 <br />