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(b) The franchisee shall agree that it will pay all ex- <br />penses incurred by the City to defend itself in regard <br />to all damages and penalties included in this <br />section. These expenses shall include out -of- pocket <br />expenses, including but not limited to reasonable <br />attorneys fees, and shall include the reasonable value <br />of any service rendered by the City Attorney or his <br />assistants or any employee of the City. <br />(c) A certificate evidencing the insurance coverage herein <br />required shall be provided by the franchisee to the <br />Board upon execution of a franchise agreement. <br />(d) Upon the Board's approval of any construction plans <br />of the franchisee, the franchisee shall file with the <br />Board a faithful performance bond in the amount of ten <br />percent (10 %) of the cost of the construction, to the <br />benefit of the City, with a surety whose principal <br />place of business is in the State of Indiana. The bond <br />shall be conditioned on the completion of the <br />construction approved by the Board, and such bond <br />shall remain in place until certification to the Board <br />of the franchisee's architect or engineer that the con- <br />struction has been completed according to the plans <br />approved by the Board. <br />(e) The franchisee shall also carry such insurance as it <br />deems necessary to protect it and the City from any <br />and all claims under the workers compensation law <br />which may be applicable to the franchisee. All <br />insurance required under this subsection shall be and <br />remain in full force and effect for the entire period <br />of the franchise. <br />Section 7 -10. Restrictions Against Assi nment. The <br />franchise shall not be assigne or trans erre , eittler in whole or in <br />part, or leased, sublet, or mortgaged in any manner, nor shall title <br />thereto, either legal or equitable, or any right, interest or <br />property therein, pass to or vest in any person, either by the act of <br />the franchisee or by operation of law, without the consent of the <br />Board, which consent may not be unreasonably withheld. The Board's <br />decision, on assignment or transfer of the franchise shall be <br />based on the legal character, financial condition, and technical <br />expertise of the proposed assignee or transferee as well as its <br />demonstrated ability to meet the terms and conditions of this Article <br />and the franchise agreement; provided, however, that nothing in this <br />subsection shall be deemed to prohibit a mortgage or pledge of its <br />CATV system, or any part thereof, for the purpose of financing the <br />CATV system. The granting, giving or waiving of any one of more such <br />consents by the Board shall not render unnecessary any subsequent <br />consent or consents. <br />Section 7 -11. Renewal of Franchise. <br />(a) Any franchise granted under this Article may be <br />renewed by the Board for a period of fifteen (15) <br />years, after notice and a public hearing and compliance <br />with the terms and conditions of this section. <br />(b) A CATV franchise agreement which was executed prior <br />to the adoption of this Article may be renewed by the <br />Board for a period of fifteen (15) years, after notice <br />and public hearing and compliance with the terms and <br />conditions of this section, provided that the <br />franchisee furnish to the Board all documentation <br />required under 7 -3 of this Article. Upon renewal, a <br />new franchise agreement in keeping with the terms, <br />standards, and conditions of this Article shall be <br />executed. <br />11 <br />