(A) Insurance. The cable operator shall maintain in full force and effect during the term of the permit, at its own cost and expense, comprehensive general liability insurance in the amount of at least $1,000,000. Such insurance shall designate the City as an additional insured to the liability limits imposed by the Oklahoma Governmental Tort Claims Act, 51 O.S. §§ 151 et seq.
(B) Indemnification. The cable operator agrees to indemnify, save and hold harmless, and defend the City, its trusts, its officers, boards and employees, from and against any liability for damages and for any liability or claims, in each case resulting from property damage or bodily injury (including accidental death) which arise out of the cable operator’s construction, operation or maintenance of its cable system, including, but not limited to, reasonable attorneys’ fees and costs.
(C) Bonds and surety. Except as expressly provided herein, the cable operator shall not be required to obtain or maintain bonds or other surety as a condition of being awarded the permit or continuing its existence. The City acknowledges that the legal, financial and technical qualifications of the cable operator are sufficient to afford compliance with the terms of the permit and the enforcement thereof. The cable operator and the City recognize that the costs associated with bonds and other surety may ultimately be borne by the subscribers in the form of increased rates for the cable service or other service. In order to minimize such costs, the City agrees to require bonds and other surety only in such amounts and during such times as there is a reasonably demonstrated need therefor. The City agrees that in no event, however, shall it require a bond or other related surety in an aggregate amount greater than $100,000 conditioned upon the substantial performance of the material terms, covenants and conditions of the permit. Initially, no bond or other surety shall be required. In the event that one is required in the future, the City agrees to give the cable operator at least 60 days’ prior written notice thereof stating the exact reason for the requirement. Such reason must demonstrate a change in the cable operator’s legal, financial or technical qualifications which would materially prohibit or impair its ability to comply with the terms of the permit or afford compliance therewith.
(Prior Code, § 7-9H-13) (Ord. 2021-11, passed 8-17-2021)