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