(a) A grantee shall indemnify and hold harmless the City as set forth in the license or franchise at all times during the life of a license or franchise and will pay all damages and penalties which the City may be required to pay as a result of granting a license or franchise to a grantee.
(b) A grantee shall at all times during the life of a license or franchise carry and require its contractors and subcontractors to carry out public liability, property damage, worker's disability, and vehicle insurance in such form and amount as shall be determined by the City as set forth in the license or franchise. All required insurance coverage shall provide for thirty day notice to the City in the event of material alteration or cancellation of such coverage prior to the effective date of such material alteration or cancellation. Failure of the grantee to provide appropriate insurance certificates to the City within sixty days after the execution of a license or franchise shall render the license or franchise null and void.
(Ord. 99-07. Passed 3-2-99.)