25F - AGMT - WIRELESS LICENSE - Laserfiche WebLink

Home Browse Search

DocuSign Envelope ID: 7CD73A60-3C9D-4785-9DC5-9A381151512D 8.1 Performance Bond. Prior to the commencement of any work under this Agreement, Licensee must provide a performance bond running to the Licensor according to this Section 8.1. The amount of the Bond shall be based on the number of attachments in the following amounts: Number of Municipal Facilities Required Security 1-50 $50,000 51-100 $75,000 101-300 $100,000 301-1000 $150,000 Greater than 1000 $200,000 The performance bond is conditioned upon the faithful performance by Licensee of all the terms and conditions of this Agreement and upon the further condition that if Licensee fails to comply with any terms or conditions governing this Agreement, there shall be recoverable jointly and severally from the principal and surety of the bond any damage or loss suffered by the Licensor as a result, including the full amount of any compensation, indemnification, or costs of removal or abandonment of Licensee's property, plus costs and reasonable attorneys' fees up to the full amount of the performance bond. Licensee will keep the performance bond in place during the term of this Agreement. This bond shall also fulfill the requirements of Section 33-240(c)(7) of the Santa Ana Municipal Code or any similar successor code provision, but only as pertaining to Licensee's Equipment on Municipal Facilities. 8.2 Assessment of the Bond. Upon Licensee's failure to pay the Licensor any amount owing under this Agreement, the performance bond may be assessed by the Licensor for purposes including, but not limited to: (a) Reimbursement of costs borne by the Licensor to correct violations of the Agreement not corrected by Licensee, after Licensor provides notice and a reasonable opportunity to cure such violations. This shall include but not be limited to removal of Equipment. (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. " Page 15 of 23 25F-45