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A. The company shall pay all damages and penalties which the village, its officers, boards, commissions, agents and employees may legally be required to pay as a result of the grant of authority to it under the terms of this chapter. These damages or penalties shall be for all damages arising out of the installation, operation and maintenance of the cable system authorized herein, whether or not any act or omission complained of is authorized, allowed, or prohibited by this chapter.
B. The company shall pay all expenses incurred by the village, its officers, boards, commissions, agents and employees in defending itself with regard to all damages and penalties mentioned in subsection A of this section. These expenses shall include all out of pocket expenses, such as attorney fees.
C. The company shall maintain throughout the period of this chapter liability insurance insuring the village, its officers, boards, commissions, agents and employees and the company in the minimum amounts of:
1. One million dollars ($1,000,000.00) for personal injury or death resulting from any one occurrence; and
2. Five hundred thousand dollars ($500,000.00) for property damage resulting from any one occurrence.
The insurance policies mentioned above shall contain an endorsement stating that the policies are extended to cover the liability assumed by the grantee under the terms of this chapter and shall contain the following endorsement:
It is hereby understood and agreed that this policy may not be cancelled nor the amount of coverage thereof reduced until thirty (30) days after receipt by the village clerk by registered mail of two (2) copies of a written notice of such intent to cancel or reduce the coverage.
All policies of insurance or certified copies thereof and written evidence of payment of required premiums, shall be filed and maintained with the village clerk during the term of any franchise granted hereunder or any renewal hereof.
D. The company shall apply for the license and permits necessary for the construction and operation of the cable television system herein described within sixty (60) days of the filing of the company's unconditional acceptance of this permit. (Ord., 12-19-1983)