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City c)r other public or private agency may per1-orm such ~work at the Licensee"s e'<pense and the Licensee shall reimburse the City or other a~!ency within thirty (30) days af°ter' receiF.~t of-' a wr'i~'ten i nvoi c(~.:. ,cS ~:-?:_ . _.... _ .. .. ._. ...~. ..'[:. _ic:~r~ iT..]. ...__...~.B .ond. The Licensee shall maintain? and by its accept. ante o.f its :l. icense~ soeci1-ica.].ly aor?. e tha'l:. it ~.,i].l m..-':~int. ain throughout t'~e term ot- it.s licen.'-.;e a 1-aithYul per1-or~a. nce bond runnin,:; t.o the Ci~:'.y oF U~liversit. y (]ity~ with good and suFFicient su~"etv ~ in ~he penal amount oF one hundred thous.and dollars (':~100~000.001 conditioned that the Licensee shall well and truly observe that in case oF any breach oF condition. o1- the bond: the amo~nt thetee:,1- shall be recoverable Fr(:,m the principal ar-~d sureties by the City o~ University City .For all damages proximately resuitin(.~ .Fr¢im the f:ailur-e o1- the Licensee to well and -Faith~'ully obser-ve and perform any provisions o.F said license. The bond ret:'em'-ed to (n th:i~.~. section shall contain an endorsement stating that the b,.')n,..i is extended to cover the liability assumed by the Licensec under the terms o~~ this or~dinance and shall pk'ovi,.'te that the bond is not cancelable nor shall a r'enewal be denied. nor coverage reduced: until a timely and sa~:is1-actory inspection o= the compl~ted project is made by the Di~ector sixty (60) days has passed 1-pore the date notice was given to the City indic::at. ing completion ot:' the project. without an inspection by the Bi~ector. Upon Licensee giving written notice to the City completion of cons~-ruction o1- Licensee'"s ~:'a(...ilities~ the bond ~ay be reduced to, ten thousand dollar's <.~10~000.00)~ provided that on such r(.~ducticn date there ape no claims o~~ any ty~e outstanding at. such time ass.~rted against Licensee op the City, arising out o.F any acts or omissions o1- Licensee relating to this License. The bond must be a~)ppcved by the City Attorney and the bond shall be ~'iied and maintained with the City Clerk duping the ~ePm o~~ said License. Any r-esident oF the City may execute on the a1-o~esaid bond to collect. any judgement entet~ed in .Favor o~~ the resident and against the Li(:ensee 1-or br'each or~ 1-allure to per1-o~m any provision o~' the 1 icense. S~..~..._ c..~.......~.....t _.i on _1_3. ._._...._,_._..]] .nsu~"ance. Licensee shai 1 maintain in e1-.Fect f-'r'om the be~:inning of-' construction~ continuousl¥~ through the original license te~'m and any r-enewal ter~s o~' this license~ personal injury liability insurance covering the L icensee"s ~)r'oper, ty and the r'ight oF way in which it is located? in the minimum amount o1- one hundr'ed thousand dolla~"s (~].00~000.00) 1-or the in.jui'-y tc o~ death ,:).F any one person., and one million doliar's (~1~000~000.00) f.'or injury to or' death o¥ any numbe~~ of; persons in one occurrence~ and property damage liability insurance in the amount o¥ 1-~ve hundred 'thousand dollars (s~;500~000.00). Such insurance sha).i be f-'op the benefit o¥ both the public who may be on o~~ ak;~o,.~t the ~ublic poa0s and the City a~s the owner' o~' the ~oad and its ac,~)u~tenances. All liability policies shall provide that the City is~ an ado itional insured a~s to the Licensee'"s operations under this or-d inance. 5