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4264 Subcontractor's employees engaged in the work. The liability insurance 4265 required by Section 13.02.A(2) and the automobile liability policy required by 4266 Section 13.02.A(3) shall cover all Subcontractors or the Subcontractor must 4267 furnish evidence of insurance provided by it meeting all of the requirements of 4268 this Section 13.02. 4269 2. Contractor shall comply with all requirements of the insurers issuing policies. 4270 The carrying of insurance shall not relieve Contractor from any obligation under 4271 this Agreement, including those imposed by Section 13.01. If any claim is 4272 made by any third Person against Contractor or any Subcontractor on account 4273 of any occurrence related to this Agreement, other than claims by employees 4274 for work-related incidents, Contractor shall promptly report the facts in writing to 4275 the insurance carrier and to the Agency. 4276 3. If Contractor fails to procure and maintain any insurance required by this 4277 Agreement, Agency may take out and maintain such insurance as it may deem 4278 proper and may require Contractor to reimburse it for the cost incurred within 4279 thirty (30) Days and/or deduct the cost from any monies due Contractor. 4280 Agency may also treat the failure as a Contractor default. 4281 4. Agency is not responsible for payment of premiums for or deductibles under 4282 any required insurance coverages. 4283 5. Any excess or umbrella policies shall be written on a "following form" basis. 4284 13.03 FAITHFUL PERFORMANCE BOND 4285 Pursuant to the 2009 Franchise Agreement, Contractor shall have a faithful performance 4286 bond in effect until December 31, 2020. On or before the Commencement Date, 4287 Contractor shall file with Agency a bond securing the Contractor's faithful performance of 4288 its obligations under this Agreement. The principal sum of the bond shall be no less 4289 than ten percent (10%) of the amount of the Rate Year Ten (2020) annual Revenue 4290 Requirement for Agency shown on Attachment N. The form of the bond shall be as set 4291 out in Attachment F. The bond shall be executed as surety by a corporation admitted to 4292 issue surety bonds in the State of California, regulated by the California Insurance 4293 Commissioner, and with a financial condition and record of service satisfactory to 4294 Agency. 4295 The term of the bond shall be twenty-four (24) months. The bond shall be extended, or 4296 replaced by a new bond in the same principal sum (adjusted by the Annual Index 4297 Change in the CPI -U, which are defined in Attachment K), for the same term (i.e., 4298 twenty-four (24) months) and in the same form, bi-annually thereafter. Not less than 4299 ninety (90) Days before the expiration of the initial, or any subsequent, bond, Contractor 4300 shall furnish either a replacement bond or a continuation certificate substantially in the 4301 form attached as Attachment F, executed by the surety. 4302 It is the intention of this Section that there be in full force and effect at all times a bond 4303 securing the Contractor's faithful performance of the Agreement, throughout its Term. 4304 For the purposes of this Section, the Consumer Price Index shall be "CPI -U" means the 4305 All Urban Consumers Index (CPI -U) compiled and published by the U.S. Department of 4306 Labor, Bureau of Labor Statistics or its successor agency, using the following 4307 parameters. REV: 03-16-18 MI Page 105 of 126 ATTY/AGR.2018.054/Recology of San Mateo