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ARTICLE 15. BOND REQUIREMENTS Section 15.01. The Licensee agrees to submit to the City, and keep in full force and effect, a surety bond in the greater of the following amounts: 1) $25,000, or 2) the total amount of all Attachment Fees due under this Agreement as of the date of the bond times 1.2. The initial bond must be submitted to the City within 30 days of the Effective Date. The bond must be renewed and submitted annually to City on or before 30 days before each anniversary date of the Effective Date. The term of each bond must be for a period of one year. The form of the bond and the identity of the surety are subject to approval by the City. The bond must guarantee payment of all sums that may become due to the City under this Agreement, including, but not limited to, the cost of removal of the Licensee's Facilities under all circumstances in which the City may charge that cost to the Licensee. The Licensee agrees to maintain the surety bond in full force and effect during the entire term of this Agreement and until the City is reimbursed for all amounts due from the Licensee to the City under this Agreement. The amount of the bond will not limit the obligations of the Licensee under this Agreement. Section 15.02. The City, at its sole discretion, may require the Licensee to prepay the Attachment Fees for all new Attachments ofthe Licensee at the rate specified in Appendix A. ARTICLE 16. LIABILITY, WARRANTIES AND INDEMNITY Section 16.01. The City reserves to itselfthe right to maintain and operate the Poles in a manner that best enables the City to fulfill its own service requirements. The City will endeavor to exercise reasonable precaution to avoid damaging the Licensee's Facilities, and to make a report to the Licensee of the occurrence of any such damage caused by the City or its officers, employees, agents or contractors. The City will reimburse the Licensee for reasonable costs incurred by the Licensee for the physical repair of the Licensee's Facilities damaged by the negligence of the City, unless the damage arises in connection with a failure by the Licensee to comply with any provision of this Agreement. The City will not be liable to the Licensee or to any third party for any interruption of the Licensee's services or for interference with the operation of the Licensee's Facilities. The City will not be liable to the Licensee or any third party for any special, indirect, punitive, or consequential damages, or any fines and penalties associated with damage to the Licensee's Facilities caused by the City or its officers, employees, agents or contractors. Section 16.02. The Licensee will take all necessary precautions to protect all persons and property against personal injury or property damage that may result from the installation, maintenance or operation of the Licensee's Facilities. If, in the City's opinion, the Licensee has not taken any such necessary precautions, the City may notify the Licensee, and the Licensee will correct the situation within a reasonable time. The Licensee agrees, however, that it is solely responsible for the installation, maintenance and operation of the Licensee's facilities, and the City does not assume any such responsibility because of the City's actions or inactions. Section 16.03. The Licensee will require that its employees, servants, agents, contractors and subcontractors have the necessary qualifications, skill, knowledge, training, and experience to protect themselves, their fellow employees, employees of the City, and the general public, from harm or injury while performing work under this Agreement. In addition, the Licensee will furnish its employees with, and require its agents, contractors and subcontractors to provide... competent 14 C:\TEMP\Grande pole aU final.doc