(a) At all times during the term of the franchise, the grantee shall obtain, pay all premiums for, and file with the City executed duplicate copies and receipts evidencing the payment of premiums for the following:
(1) A general comprehensive public liability insurance policy indemnifying, defending and saving harmless the City, its officers, boards, commissions, agents or employees, from any and all claims by any person whatsoever on account of injury to or death of a person or persons occasioned by the operations of a grantee, under the franchise herein granted, or alleged to have been so caused or occurred, with a minimum liability of five hundred thousand dollars ($500,000) per personal injury or death of any one person and one million dollars ($1,000,000) for personal injury or death of any two or more persons in any one occurrence;
(2) Property damage insurance indemnifying, defending and saving harmless the City, its officers, boards, commissions, agents and employees, from and against all claims by any person whatsoever for property damage occasioned by the operation of the grantee, under the franchise herein granted, or alleged to have been so caused or occurred, with a minimum liability of two hundred fifty thousand dollars ($250, 000) for property damage to any one person and five hundred thousand dollars ($500, 000) for property damage to two or more persons in any one occurrence; and
(3) One million dollars ($1,000,000) for all other types of liability. Such insurance shall be kept in full force and effect by a grantee during the existence of and until after the removal of all poles, wires, cables, underground conduits, manholes and other conductors and fixtures incident to the maintenance and operation of the CATV System.
(b) All of the foregoing insurance contracts shall be in form satisfactory to the City and shall be issued and maintained by companies authorized to do business in the State and acceptable to the City, and they shall require thirty days written notice of any cancellation to both the City and a grantee herein, and a copy of the policy shall be filed with the City.
(Ord. 5757-1980. Passed 5-13-80.)