(A) Nothing in this section shall be deemed or construed to impair or affect, in any way, to any extent, any right of the town to acquire the property of the grantee, either by purchase or through the exercise of eminent domain.
(B) The town hereby reserves the right to amend any section or part of this chapter.
(C) At all reasonable times, the grantee shall permit any duly authorized representative of the town:
(1) To examine any and all financial records maintained by or under the control of the grantee relating to all revenue obtained by it from its operations under the franchise;
(2) To inspect and obtain copies of any or all maps or other diagrams maintained by or under the control of the grantee showing the location and the layout of the various components of the CATV system operated by it under its permit; and
(3) To inspect any and all installations owned, maintained or used by the grantee in its operations under its franchise, including all towers, cables and other components of the grantee's CATV system.
(D) The grantee shall indemnify and save harmless the town, its officers and employees, from and against any and all claims, demands, actions, suits and proceedings by others, and against all liability to others, arising out of the exercise or enjoyment of its franchise, including but not limited to any liability for damages by reason of or arising out of any failure of the grantee to secure consents from the owners, authorized distributors, or licensees of programs to be delivered by the grantee's CATV system, and against any loss, cost, expense and damages resulting therefrom, including reasonable attorney's fees.
(E) Concurrently with the filing of the written acceptance, as required in § 113.04, the grantee shall file with the Town Clerk, and at all times thereafter maintain in full force and effect for the term of such franchise or any renewal thereof a good and sufficient liability insurance policy or policies, providing a minimum $300,000 coverage for personal injuries to each person, $500,000 coverage for all personal injuries in each accident and $500,000 coverage for all property damage in each accident. The policy or policies shall name the town as an additional insured and shall be for the purpose of insuring the town against any damages to it and any and all legal liability, court costs, claim or demand for personal injury, death or property damage arising out of the operations of the grantee under this chapter or its franchise. Any coverage of the grantee in addition to the above minimum limits shall also name the town as an additional insured and/or beneficiary.
(F) The grantee shall, concurrently with the effective date of the franchise ordinance, post with the town and at all times thereafter maintain in full force and effect for the term of the franchise, or any renewal thereof, at the grantee's sole cost and expense, either:
(1) A corporate surety bond issued by a responsible insurance company licensed to do business in this state and approved by the town in the amount of $15,000, renewable annually, and conditioned upon the faithful performance of the grantee of all the provisions of the franchise agreement and this chapter, and upon the further condition that, if the grantee shall fail to comply with one or more of the provisions of the franchise agreement or this chapter, there shall be recoverable jointly and severally from the principal and surety of the bond any damages or loss suffered by the town as a result thereof, including the full amount of any compensation, indemnification or cost of removal or abandonment of any property of the grantee as prescribed hereby plus a reasonable allowance for attorney's fees and costs, up to the full amount of the bond, which condition to be a continuing obligation for the duration of the franchise and any renewal thereof and thereafter until the grantee has liquidated all of its obligations arising out of the acceptance of this franchise or renewal by the grantee or from the exercise of any privileges or right herein granted or the performance of any covenants or obligations imposed hereby. The bond shall provide that at least 30 days' prior written notice of intention not to renew, cancellation or material change be given to the town by filing the same with the Town Administrator; or
(2) A letter of credit in a form approved by the Town Administrator to the town in the amount of $15,000 issued by a local lending institution approved by the town and payable upon demand by the town. This letter of credit shall be used to protect the town from the same contingencies as enumerated in division (F)(1) of this section for a corporate surety bond.
(1995 Code, § 16-11)