In the conduct of its operation pursuant to the franchise, the Grantee shall at all times use due care and diligence. The Grantee shall further defend, indemnify, protect and save harmless the City and its political subdivisions from and against any and all liability, losses and physical damage to property and bodily injury or death to any persons from any cause of action which any person may have or claim to have by reason of any act, conduct, negligence, fault or misconduct on the part of the Grantee, its agents, officers, servants or employees.