PARKING CONCEPTS INC. OF LOS ANGELES 1 - 2007

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• � r (b) "It is agreed that any insurance maintained by the City of Santa Ana will apply in excess of, and not contribute with, insurance provided by this policy." (c) "The City of Santa Ana and its officers, agents, and employees are added as additional insured as respects operation of the named insured at the Parking Garage located at the northeast corner of Broadway and Third Street, the garage on the south side of Fifth Street between Bush and French Streets, the garage on the southwest corner of Fifth and Main Streets and the space garage on the northwest corner of Birch and Third Streets in the City of Santa Ana." A sample Additional Insured Endorsement is attached hereto and incorporated herein as Exhibit C. The Additional Insured Endorsement shall be amended periodically to reflect all parking garages /parking lots that Operator manages on behalf of the City. Operator agrees to deposit with City, on or before the effective date of this Agreement, certificates of insurance necessary to satisfy City that the insurance provisions of the Agreement have been complied with and to keep such insurance in effect and the certificates therefore on deposit with City during the entire term of this Agreement. City shall retain the right at any time to review the coverage, from, and amount of the insurance required hereby. If, in the opinion of the City, the insurance provisions in this Agreement do not provide adequate protection for City and for members of the public using the Premises, City may require Operator to obtain insurance sufficient in coverage, form, and amount to provide adequate protection. City's requirement shall be reasonable, but shall be designed to assure protection from and against the kind and extent of the risks, which exist at the time a change in insurance is required. City shall notify Operator in writing of changes in the insurance requirements, and if Operator does not deposit copies of acceptable insurance policies with City incorporating such changes within sixty days (60) of receipt of such notice, Operator shall be in default without further notice to Operator, and City shall be entitled to exercise all legal remedies. The procuring of such required policy or policies of insurance should not be construed to limit Operator's liability hereunder or to fulfill the indemnification provisions and requirements of this Agreement. B. Faithful Performance Bond. Operator shall deliver to City on or before the commencement date of the Agreement, a faithful performance bond in the amount of One Hundred Thousand Dollars ($100,000.00) payable to the City of Santa Ana naming the City as obligee and issued by a surety company or companies acceptable to the City and in a form acceptable to the City Attorney. Said bond shall be renewed or replaced 11