4.20.126.3 Examples of the nature of the noncompliance for drawing upon the letter of credit.

Examples of the nature of the noncompliance for drawing upon the letter of credit include, but are not limited to, the following:

   4.20.126.3.1   Failure of the franchisee to pay to the city any franchise fees, taxes, liens or other fees due and owing pursuant to a franchise agreement or the ordinance codified in this title;

   4.20.126.3.2.   Failure of the franchisee to pay to the city any amounts due and owing the city by reason of the indemnity provisions of the ordinance codified in this title;

   4.20.126.3.3.   Failure of the franchisee to pay to the city any liquidated damages due and owing to the city pursuant to a franchise agreement or the ordinance codified in this title;

   4.20.126.3.4.   Failure to make any payment required by franchise agreement or the ordinance codified in this title within the time fixed therein; and

   4.20.126.3.5.   Failure to pay to the city any damages, claims costs or expenses which the city has been compelled to pay or incur by the reason of any default by the franchisee in the performance of its obligations under the ordinance codified in this title or a franchise agreement.

   4.20.126.3.6.   In the event of such noncompliance, the city may order the withdrawal of the amount thereof from the letter or other instrument for payment to the city. (Ord. 205 § 3, 2001)