A. Insurance Requirements: Grantee shall maintain in full force and effect, at its own cost and expense, during the term of the franchise, comprehensive general liability insurance in the amount of one million dollars ($1,000,000.00) combined single limit for bodily injury, and property damage. Said insurance shall designate the franchising authority as an additional insured. Such insurance shall be noncancellable except upon thirty (30) days' prior written notice to the franchising authority.
B. Indemnification: The grantee agrees to indemnify, save and hold harmless, and defend the franchising authority, its officers, boards and employees, from and against any liability for damages and for any liability or claims resulting from property damage or bodily injury (including accidental death) which arise out of the grantee's construction, operation or maintenance of its cable system, including, but not limited to, reasonable attorney fees and costs.
C. Bonds And Other Surety: Except as expressly provided herein, grantee shall not be required to obtain or maintain bonds or other surety as a condition of being awarded the franchise or continuing its existence. The franchising authority acknowledges that the legal, financial and technical qualifications of grantee are sufficient to afford compliance with the terms of the franchise and the enforcement thereof. Grantee and franchising authority recognize that the costs associated with bonds and other surety may ultimately be borne by the subscribers in the form of increased rates for cable services. In order to minimize such costs, the franchising authority agrees to require bonds and other surety only in such amounts and during such times as there is a reasonably demonstrated need therefor. The franchise authority agrees that in no event, however, shall it require a bond or other related surety in an aggregate amount greater than ten thousand dollars ($10,000.00), conditioned upon the substantial performance of the material terms, covenants, and conditions of the franchise. Initially, no bond or other surety will be required. In the event that one is required in the future, the franchising authority agrees to give grantee at least sixty (60) days' prior written notice thereof stating the exact reason for the requirement. Such reason must demonstrate a change in the grantee's legal, financial or technical qualifications which would materially prohibit or impair its ability to comply with the terms of the franchise or afford compliance therewith. (Ord. 425, 7-28-1992)