A. Indemnification: The grantee shall defend, indemnify, protect, and hold harmless the City from and against any and all liability, losses, and damage to property or bodily injury or death to any person, including payments made under workmens' compensation laws, which may arise out of or be caused by the erection, construction, replacement, removal, maintenance, or operation of grantee's cable television system and caused by any act or failure to act on the part of the grantee, its agents, officers, servants, or employees.
B. Insurance:
1. The grantee shall maintain insurance in such amounts and kinds of coverage's as may be specified by the City. The grantee shall maintain such insurance with insurance underwriters authorized to do business in the State. All policies shall name the City, its employees, servants, agents, and officers as additional insured parties. A certificate of insurance shall be filed annually with the City Clerk. Each policy shall provide that it may not be canceled nor the amount of coverage altered until thirty (30) days after receipt of the City Clerk of a registered mail notice of such intent to cancel or alter coverage.
2. The grantee shall maintain and provide to the City Clerk proof of public liability insurance for not less than the following amounts:
a. One million dollars ($1,000,000.00), any one occurrence, bodily injury or property damage.
b. Two million dollars ($2,000,000.00) products/completed operations annual aggregate liability.
c. Two million dollars ($2,000,000.00) general aggregate.
C. Insurance For Contractors And Subcontractors: Grantee shall provide coverage for any contractor or subcontractor involved in the construction, installation, maintenance or operation of its cable communications system by either obtaining the necessary endorsements to its insurance policies or requiring such contractor or subcontractor to obtain appropriate insurance coverage consistent with this Section and appropriate to the extent of its involvement in the construction, installation, maintenance or operation of grantee's cable communication system.
D. Foreclosure: A foreclosure or other judicial sale of all or part of the system shall be treated as a change in control of the grantee and the provision of subsection 7-4-10H of this Chapter shall apply.
E. Receivership: The City shall have the right to cancel the franchise one hundred twenty (120) days after the appointment of a receiver or trustee, to take over and conduct the business of the grantee, whether in receivership, reorganization, bankruptcy, or other action or proceedings, unless such receivership or trusteeship shall have been vacated prior to the expiration of said one hundred twenty (120) days, or less:
1. Within one hundred twenty (120) days after being elected or appointed, such receiver or trustee shall have fully complied with all provisions of this Chapter and remedied all defaults thereunder; and
2. Shall have executed an agreement, approved by the court having jurisdiction, whereby such receiver or trustee agrees to be bound by this Chapter and the franchise granted to the grantee.
F. Publication Of Notice: Whenever the provisions of this Chapter require that notice be published, such notice shall be prepared and published by the City. The cost of publication will be borne by the grantee.
G. Cost Of Publication: The grantee shall assume the costs of publication of this Chapter, the costs of any other legal publication for amendments to this Chapter prior to franchise award, the costs of publication or any other ordinances or legal documents prior to franchise award, and the costs of the special election, if required by Iowa law.
H. Taxes: Subject to Federal and State law, the grantee shall pay all real estate taxes, special assessments, personal property taxes, license fees, permit fees and other charges of a like nature which may be taxed, charged, assessed, levied, or imposed upon the property of the grantee and upon and services rendered by the grantee. (Ord. 96-1, 2-5-1996)