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such obligation requires activity over a period of time and Company shall have commenced to perform whatever may be required to cure the particular default within ten (10) days after such notice and continues such performance diligently, said time limit may be waived in the manner and to the extent allowed by the City. 7. The filing of a voluntary petition in bankruptcy by the Company; the adjudication of Company as bankrupt; the appointment of any receiver of Company's assets; the making of a general assignment for the benefit of creditors; a petition or answer seeking an arrangement for the reorganization of the Company under any Federal Reorganization Act, including petitions or answers under Chapters X or XI of the Bankruptcy Act; the occurrence of any act which operates to deprive the Company permanently of the rights, powers, and privileges necessary for the proper conduct and operation of the Advertising Sites; the levy of any attachment or execution which substantially interferes with the Company's operations under this Agreement and which attachment or execution is not vacated, dismissed, stayed or set aside within a period of ninety (90) days. This Agreement may be terminated by the City for any of the above -listed events of default after providing written notice to Company and if the event of default is not cured within the specified cure period provided in this Section. City shall be entitled to receive, and the Company shall pay City earned revenue from advertising in the form of the pro -rated MAG payment and/or the Revenue Share (if greater) up to the date of termination. b. Notwithstanding Section 18.a, an ASLA may be terminated for convenience by the City upon one hundred eighty (180) days written notice of termination, provided that (i) such termination cannot occur within the initial ten (10) years from the Effective Date of such ASLA, and (ii) such termination is to redevelop the site for another purpose at City's sole discretion. In such event, City shall be entitled to receive, and the Company shall pay City compensation for all pro -rated MAG Payments and/or the Revenue Share (if greater) due to the City up to the termination date. For the avoidance of doubt, any termination of a particular ASLA does not affect the Term of the Agreement. The Parties agree that the terms of this Section 18.b. shall appear in each ASLA between the parties. C. At the end of the Term, Renewal Term, or an ASLA, or if the Agreement or ASLA is earlier terminated, Company shall remove the digital billboards and digital banners at its own cost and return the Advertising Sites to their original condition. 19. SECURITY FOR PERFORMANCE The Company shall establish a bond in the sum of $500,000 for each Digital Billboard Advertising Site and $150,000 for each Digital Banner Advertising Site, within thirty (30) days after full execution of each respective ASLA, to insure faithful performance of Company's covenants for construction, maintenance, repair or replacement of the digital billboards and digital banners, timely payment of all revenues due the City under this Agreement, and restoration of the Advertising Sites to the condition existing prior to the construction of the digital billboards and digital banners. The bond shall be in a form acceptable to the City Attorney and issued by a company licensed to do business in the State of California. Company shall not continence any work until the surety required herein is/are supplied to and approved by the City. Page 10 of 31