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SECTION 6 SPECIFIC RIGHTS AND REMEDIES 6.1 Performance Bond. Within sixty (60) days of execution of this Agreement, the Company shall deposit with the City a surety bond in the amount of Fifty Thousand Dollars ($50,000) in a form reasonably acceptable to the City's Director of Law (the "Performance Bond"). The Performance Bond shall be conditioned on and insure the faithful performance by the Company of all terms and conditions of this Agreement and the payment by the Company of any claim, liens, costs, expenses and taxes due the City that arise by reason of the operation or maintenance of the Facilities for the purposes described in this Agreement. The Performance Bond shall be maintained at Fifty Thousand Dollars ($50,000) during the entire term of this Agreement, regardless of withdrawals which may be made under this Section. The rights reserved to the City with respect to the Performance Bond are in addition to all othèr rights the City may have under this Agreement or any law. The Company providing such Bond must be authorized to do business in the State of Ohio. 6.2 Procedure for Notice of Breach and Imposition of Liquidated Damages Pavments. A. Whenever .the City finds that the Company has allegedly violated one (1) or more terms, conditions or provisions of this Agreement, a written notice shall be given to thè Company. The written notice shall describe in reasonable detail the alleged breach so as to afford the Company all opportunity to remedy the violation(s). The Company shall have thirty (30) days subsequent to receipt of the breach notice in which to correct the violation(s) before the City may assess liquidated damages against the Company and/or assert a claim against the Performance Bond. The time for the Company to correct any alleged violation(s) shall be extended by the City if more than thirty (30) daýs are required to correct the alleged violation(s); provided, however, the Cómpany must commence the corrective action within fifteen (15) days of receipt of the notice and thereafter use reasonable diligence, as determined by the City, tó correct the violation(s), B. Within fifteen (15) days after receipt of written notice of the alleged violation(s), the Company may request to be heard by the City on the issue of the violation(s) alleged in the notice. The Company's request for a hearing on the alleged violation(s) shall be in writing and shall specify with particularity the matters the Company disputes. Upon receipt of such request, the City shall notify the Company of, the date, time and place of such hearing, which shall not be scheduled for a date that is less than thirty (30) days from the date of the Company's request for a hearing. At the hearing, the Company shall be permitted to furnish eyidence that: 1. demonstrates that corrective action has been, or is being actively and expeditiously pursued, to remedy the violation or noncompliance; 477196-2 11