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<br />c. <br /> <br />the expiration, and if Grantee fails to renew, City may draw entire <br />performance bond. If performance bond is drawn upon Grantee must <br />restore to the full performance bond amount. <br /> <br />111. <br /> <br />The security fund may be assessed by City for Franchise breaches, <br />provided that Grantee has received written notice to cure any material <br />violations prior to any assessment, in accordance with Section 8.1 herein. <br />As long as the City follows the procedures specified herein for assessing <br />and/or withdrawing funds from said security fund, Grantee shall not <br />initiate litigation or non-City administrative action to prevent or impair <br />City from accessing those funds. Grantee's recourse, in the event Grantee <br />believes any taking of security funds is improper, shall be through legal <br />action after the security has been drawn upon. If the City's action or taking <br />is found to be improper by any court or agency of competent jurisdiction, <br />Grantee shall be entitled to a refund of the funds plus interest and/or any <br />other award which such court or agency shall make. <br /> <br />IV. <br /> <br />Nothing herein shall be deemed a waiver ofthe normal permit and <br />bonding requirements made of all contractors working within the City's <br />public Rights-of-Way. However, during construction of the System <br />required by Section 4 and Exhibit C herein, the bonding requirements of <br />paragraphs (a) and (b) above may be used by Grantee to satisfy any <br />bonding requirements of City permits. Subsequent to the time period <br />designated for completion of the System construction indicated in Section. <br />4, Grantee shall be responsible for satisfying any bonding requirements <br />made of all contractors working within the City's Rights-of-Way. <br /> <br />Liquidated Damages. <br /> <br />1. <br /> <br />Because it may be difficult to calculate the harm to the City in the event of <br />a breach of this Franchise by Grantee, the parties agree to liquidated <br />damages as a reasonable estimation of the actual damages. To the extent <br />that the City elects to assess liquidated damages as provided in this <br />Agreement and such liquidated damages have been paid, such damages <br />shall be the City's sole and exclusive remedy for the specific violation for <br />which the liquidated damages were imposed. Nothing in this section shall <br />preclude the City from exercising any other right or remedy with respect <br />to a breach that continues past the time the City stops assessing liquidated <br />damages for such breach. <br /> <br />11. <br /> <br />Prior to assessing any liquidated damages, the City shall mail to the <br />Grantee a written notice by certified or registered mail of the alleged <br />violation and the proposed liquidated damage, specifying the violation at <br />issue. The Grantee shall have a reasonable time or no more than thirty <br />(30) days from the date of receipt of the written notice to cure or <br />commence to cure, as is appropriate depending on the nature of the alleged <br /> <br />30 <br />