Loading...
The Company shall continually, at its expense, procure and maintain coverage and annually provide evidence of financial resources to pay losses and damages through a combination of self-insurance and commercial insurance or full self-insurance in amounts satisfactory to the City insuring against all claims, demands, or actions for injury, death and damage of property sustained as a result of any one occurrence in an amount of not less than $2,500,000, and aggregate in the amount of not less than $5,000,000 arising from, related to, or connected with, the conduct and operation of Company’s business in, on, or around the City’s public streets and right of ways. The City shall be listed as the additional insured.
This franchise shall apply to and bind the City and the Company and their successors and assigns. No consent shall be required for any assignment or transfer by merger, consolidation, or reorganization. Upon any sale or assignment by the Company, the Company shall file with the City Clerk written notice of the proposed sale or assignment and clearly summarize the proposed procedure and the terms and conditions thereof. If the City determines it needs additional information, the Company shall provide the requested information. The Company shall reimburse the City for the City’s costs incurred in reviewing all matters relating to the sale or assignment, including the costs for consultants and technical experts. The City shall have sixty (60) days from the date of written notice of the sale or assignment to adopt a resolution. If the City fails to adopt a resolution affirming or rejecting the sale or assignment within the sixty (60) day period, the sale or assignment shall be deemed approved.
Either the City or the Company (“party”) may terminate this franchise if the other party shall be materially in breach of its provisions. Upon the occurrence of a material breach, the non-breaching party shall provide the breaching party with notification by certified mail specifying the alleged breach. The breaching party shall have sixty (60) days to cure the breach, unless it notifies the non-breaching party, and the parties agree upon a shorter or longer period for cure. If the breach is not cured within the cure period, the non-breaching party may terminate this franchise and pursue any other right or remedy available under law or in equity, including, but not limited to, a claim to recover all damages, costs of enforcement, and reasonable attorneys’ fees. A party shall not be considered to be in breach of this franchise if it has operated in compliance with state and federal law. A party shall not be considered to have breached this franchise if the alleged breach is the result of the actions of a third party or the other party.
If any provision of this ordinance shall be adjudged to be illegal or void, such adjudication shall not affect the validity of the ordinance as a whole, and the remaining provisions of this ordinance, which are severable from said unlawful provisions, shall be and remain in full force and effect, the same as if the ordinance contained no illegal or void provisions.
To the fullest extent permitted by law, each of the parties hereto waives any right it may have to a trial by jury in respect to litigation directly or indirectly arising out of, under, or in connection with this ordinance. Each party further waives any right to consolidate any action in which a jury trial has been waived with any other action in which a jury trial cannot be or has not been waived.
This ordinance and the rights and privileges herein granted shall become effective and binding upon its approval, passage, and publication in accordance with Iowa law and the written acceptance by the Company. The City shall provide the Company with an original signed copy of this ordinance within ten (10) days of its final passage. The Company shall, within thirty (30) days after the City Council approval of this ordinance, file in the office of the City Clerk, its acceptance in writing of all the terms and provisions of this ordinance. Following City Council approval, this ordinance shall be published in accordance with the Code of Iowa. The effective date of this ordinance shall be the date of publication. In the event that the Company does not file its written acceptance of this ordinance within thirty (30) days after its approval by the City Council, this ordinance shall be void and of no effect.
(Ch. 111 - Ord. 2011 – Jan. 21 Supp.)