The franchisee shall file and maintain throughout the term of this franchise a faithful performance bond running to the town with a good and sufficient surety to be approved by this Board in the penal sum of $10,000, conditioned that the franchisee shall well and truly perform each term and condition of this franchise; the bond shall not be terminated or allowed to expire except upon 30 days’ written notice to this Board.
(Ord. 8203, passed 3-8-82)