(A) On accepting the franchise, the grantee shall, within 60 days, file the documents required to obtain all necessary federal, state, and local licenses, permits, and authorizations required for the conduct of its business, and shall on request of the village submit reports to the Village Manager on progress in this respect until all such documents are in hand.
(B) Construction and installation of the system, underground and aerial, shall be completed as presented in Exhibit A, within two years of the effective date of the franchise, assuming no occurrence of delays beyond the control of the grantee, such as, utility make ready delays, acquisition of easements, or zoning problems.
(C) As evidence of good faith in the performance of the franchise agreement and in consideration of the granting of the franchise the grantee shall on acceptance of this franchise, deposit with the village, a construction performance bond to guarantee its construction time table under the terms of this franchise. This bond shall terminate on completion of the project. Thereafter, only the bond requirement as set forth in § 112.07 shall be maintained thereafter.
(1995 Code, § 112.12) (Ord. 79-O-20, passed 7-9-1979)