(A) Indemnity. The grantee shall pay by its acceptance of this franchise and specifically agrees that it will pay all damages and penalties which the city may legally be required to pay as a result of granting this franchise. These damages or penalties shall include, but shall not be limited to, damages arising out of copyright infringements and all other damages arising out of the installation, operation, or maintenance of the CATV system authorized herein, whether or not any act of omission complained of is authorized, allowed, or prohibited by this franchise. The grantee shall save the city harmless from any claim or demand whatsoever arising out of any copyright infringement on the part of the grantee in the operation of the system. The grantee agrees to defend the city from any suit, judgment, execution, claim, or demand whatsoever arising from the copyright infringement at the grantee’s own cost and expense. The grantee shall pay by its acceptance of this franchise and specifically agrees that it will pay all expenses incurred by the city in defending itself with regard to all penalties and damages mentioned in this section.
(B) Insurance.
(1) The grantee shall maintain and by its acceptance of this franchise specifically agrees that it will maintain throughout the terms of this franchise liability insurance, insuring the city and the grantee in regard to all damages mentioned in division (A) above in the minimum allowance of:
(a) $500,000 for bodily injury or death to any one person within the limit, however, $1,000,000 for bodily injury or injury or death resulting from any one accident;
(b) $250,000 for property damage resulting from any one accident;
(c) $125,000 for the infringement of copy right; and
(d) $125,000 for all other types of liability.
(2) The insurance policy obtained by the grantee in compliance with this section must be approved by the City Council and the insurance policy along with written evidence of payment of the required premium, shall be filed and maintained with the City Clerk during the term of this franchise.
(C) Bond. The grantee shall, within 30 days after the effective date of the franchise after the acceptance is filed by the grantee, post with the city a performance bond in the amount of $25,000 which will be returned to the grantee at the end of three years provided the grantee has in good faith during the time commenced the construction of the system to be operated pursuant to this franchise and has in good faith complied with the details of this chapter and the rules and regulations herein required. In default of the grantee performing the obligation herein set out, the sum of $25,000 shall be forfeited to the city.
(1972 Code, § 10-741) (Ord. 638, passed 4-15-1980)