Upon preparation and acceptance of a franchise agreement, a franchisee shall indicate it understands that failure to comply with any time and performance requirements, or breach of a term or condition of such franchise, of this cable service provider ordinance, or of any federal, state, or local law or regulation pertaining to the provision of cable service, as stipulated in the agreement or the ordinance codified in this title will result in damage to the city, and that in certain cases it is and will be impracticable to determine the actual amount of such damage in the event of delay or nonperformance of specified obligations. If the cable administrator elects to assess liquidated damages against the franchisee, such liquidated damages shall constitute the exclusive monetary remedy available to the city, and the city shall be entitled to no other monetary damages with the exception of claims sounding in fraud or tort, or defense and indemnity. (Ord. 205 § 3, 2001)