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REV: 10-26-2021 SK 8.PERFORMANCE BOND. In order to secure the performance of its obligations under this MLA, Licensee will provide the following security instrument to the City: 8.1.Performance Bond. Prior to the commencement of any work under this MLA, Licensee must provide a performance bond running to the City in the sum of: (i) for 1 to 25 SLAs, not less than Fifty Thousand Dollars ($50,000); (ii) for 26 to 50 SLAs, not less than Seventy-Five Thousand Dollars ($75,000); and 51 or more SLAs, not less than One Hundred Thousand Dollars ($100,000). If Licensee expands the number of SLAs during the term of this MLA, Licensee shall adjust its performance security in accordance with the scale identified above. The performance bond is conditioned upon the faithful performance by Licensee of all the terms and conditions of this MLA and upon the further condition that if Licensee fails to comply with any terms or conditions governing this MLA, there shall be recoverable jointly and severally from the principal and surety of the bond any damage or loss suffered by the City as a result, including the full amount of any compensation, indemnification, or costs of removal or abandonment of Licensee’s property, plus costs and reasonable attorneys’ fees up to the full amount of the performance bond. Licensee will keep the performance bond in place during the term of this MLA. 8.2.Assessment of the Bond. Upon Licensee’s failure to pay the City any amount owing under this MLA, the performance bond may be assessed by the City for purposes including, but not limited to: (a) Reimbursement of costs borne by the City to correct violations of the MLA not corrected by Licensee, after City provides notice and a reasonable opportunity to cure such violations; (b) To provide monetary remedies or to satisfy damages assessed against Licensee due to a material breach of this MLA. 8.3.Restoration of the Bond. Licensee must deposit a sum of money or a replacement instrument sufficient to restore the performance bond to its original amount within 30 days after written notice from the City that any amount has been recovered from the performance bond. Failure to restore the bond to its full amount within 30 days will constitute a material breach of this MLA. Licensee will be relieved of the foregoing requirement to replenish the bond during the pendency of an appeal from the City’s decision to draw on the performance bond. 8.4.Costs of Collection. If the performance bond is drawn upon, all of City’s costs of collection and enforcement of the provisions relating to the bond that are specified in this section, including reasonable attorneys’ fees and costs, will be paid by Licensee. ATTY/AGR.2021.268/Crown Castle (Page 15 of 28)