Item 24 - Bus Stops/Shelters and Kiosks

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• Approval of an Operating Agreement by the City Manager. F. INSURANCE The Company shall provide the required evidence of insurance coverage as set forth in the standard agreement within ten (10) business days after receipt of notice of award. G. ESTABLISHMENT OF BOND PAYMENT INFORMATION PACKET The Company shall establish a bond in the sum of $1,000,000 within forty-five (45) days after the effective date of entering into an agreement with the City. This is to insure faithful performance of the Company's covenants for the construction, maintenance and repair of the digital billboards and digital banners, for the maintenance and repair of the bus shelters and bus stops, and for the timely payment of all revenues due to the City under the agreement between the Company and the City. 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. The bond shall be maintained throughout the term of the agreement between the Company and the City. The Company shall restore to the bond any amount the City withdraws as liquidated damages, within thirty (30) days after the City withdraws the funds. H. PRE -PROPOSAL MEETING There will be no pre -proposal meeting in connection with this RFP. I. CITY RIGHT TO REJECT The City reserves the right to reject any or all proposals submitted, and no representation is made hereby that any agreement will be awarded pursuant to this RFP or otherwise. The City reserves the right to accept or reject the combined or separate components of the proposal in part or in its entirety or to waive any minor inconsistency, informality, or technical defect in the proposal. The City reserves the right to reject and approve any and all subcontractors. All subcontractor(s) shall be identified in the response to the REP. Subcontractors shall be the responsibility of the successful Proposer and the City shall assume no liability of such subcontractors. J. PROTESTS Proposers with concerns or rebuttal of any staff determination of non -responsiveness or non - instruction may submit, in writing within five (5) business days, to the Project Manager, any concerns regarding the RFP process or staff determination. Such writing shall be considered by the City Manager or his designated representative and may be acted upon within five (5) business days. If no action is taken within such time, there shall be no change to the staff determination. The exercise by Proposer of its right to submit written concerns shall be a condition precedent to seeking judicial review of any award of a contract hereunder. Page 10 of 20