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expiration of this Franchise. The renewed or replaced security fund shall be for the full <br /> amount stated in paragraph(a) of this section. <br /> (j) If City draws upon the Security Fund or any subsequent security fund <br /> delivered pursuant hereto, in whole or in part, Grantee shall replenish or replace the same <br /> within fifteen(15) days and shall deliver to City a like replacement security fund for the <br /> full amount stated in paragraph (a) of this section as a substitution of the previous <br /> security fund. <br /> (k) If any Security Fund is not so replenished or replaced, City may draw on <br /> said security fund for the whole amount thereof and hold the proceeds, without interest, <br /> and use the proceeds to pay costs incurred by City in performing and paying for any or all <br /> of the obligations, duties and responsibilities of Grantee under this Franchise that are not <br /> performed or paid by Grantee pursuant hereof, including attorneys' fees incurred by the <br /> City in so performing and paying. <br /> (1) The collection by City of any damages, monies or penalties from the <br /> security fund shall not affect any other right or remedy available to City, nor shall any <br /> act, or failure to act, by City pursuant to the security fund, be deemed a waiver of any <br /> right of City pursuant to this Franchise or otherwise. <br /> (1) Liability Insurance. <br /> a. Grantee shall with its acceptance of this Franchise, and at its sole <br /> expense,take out and maintain during the term of this Franchise <br /> comprehensive general liability insurance with a company licensed to do <br /> business in the State of Minnesota with a rating by A.M. Best& Co. of <br /> not less than "A-"that shall protect the Grantee,the City and their <br /> officials, officers, directors, employees and agents from any and all <br /> claims which may arise from operations under this Franchise,whether <br /> such operations be by the Grantee, its officials, officers, directors, <br /> employees and agents or any subcontractors of Grantee. This liability <br /> insurance shall include, but shall not be limited to,protection against <br /> claims arising from bodily and personal injury and damage to property, <br /> resulting from Grantee's vehicles,products and operations. The amount of <br /> insurance for single limit coverage applying to bodily and personal injury <br /> and property damage shall not be less than Two Million Dollars <br /> ($2,000,000.00). <br /> b. The following endorsements shall be attached to the liability policy: <br /> i. The policy shall provide coverage on an "occurrence" basis. <br /> ii. The policy shall cover personal injury as well as bodily injury. <br /> iii. The policy shall cover blanket contractual liability subject to the <br /> 23 <br /> 232860v1 <br />