7.B. SWCSR 05-06-2010 - Laserfiche WebLink

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Section. ect on 5.2 Rules of FiberNet. FiberNet may promulgate such rules, terms and conditions governing the conduct of its business provided that such rules, terms and conditions must not be in conflict with the provisions of this Franchise, the Cable Ordinance, or applicable laws or regulations. SECTION 6. INDEMNIFICATION, INSURANCE, BONDS AND SECURITY FUND Section 6.1 Indemnification. By acceptance of this Franchise, FiberNet agrees to indemnify, defend, and hold the City harmless in accordance with the Cable Ordinance. Section 6.2 Insurance. At the time of acceptance of this Franchise, FiberNet will file with the City a Certificate of Insurance in accordance with the Cable Ordinance. FiberNet must maintain such insurance for the entire term of this Franchise. The insurance for FiberNet may be purchased and maintained jointly with the City's other insurance coverage. • Section 6.3 Security for Performance. a. Because FiberNet is a City-owned public utility and public service enterprise under the control of the City Council the Council finds it unnecessary for FiberNet to post a performance bond similar to that required of private franchisees. However, because FiberNet may be subject to regulatory requirements of the Commission and the City, it shall create and maintain at the City a regulatory compliance security fund of not less than Fifty Thousand Dollars ($50,000.00) for the benefit of the City, which fund may also be used to comply with parallel bonding requirements imposed by the other members of the Sherburne-Wright Counties Cable Communications Commission. At the time of acceptance of this Franchise, FiberNet will file with the Commission evidence of creation of such fund at the City. FiberNet must maintain the fund until this Franchise expires or is terminated, and FiberNet has liquidated all of its obligations with the City. b. The fund shall be available to the City to ensure FiberNet's faithful performance in accordance with the terms of this Franchise, the Cable Ordinance, and applicable laws and regulations. The City may draw on the fund in the event FiberNet fails to comply with any law, ordinance or regulation, or to compensate the City for any damages or loss suffered by the City as a result, and further guaranteeing payment by FiberNet of claims, liens and fees due the City which arise. In the event this Franchise is revoked or the rights hereunder g City of Monticello Ordinance 514 8