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By acceptance of this Franchise, the Grantee 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, the Grantee will file with the City a Certificate of Insurance in accordance with the Cable Ordinance. The Grantee must maintain such insurance for the entire term of this Franchise. Section 6.3 Performance Bond. a. The Grantee must furnish to the Commission, for the benefit of all member cities of the Commission, a single performance bond in the amount of Fifty Thousand Dollars ($50,000.00) in a form and substance reasonably acceptable to the Commission. The single bond provided to the Commission shall comply with the parallel bonding requirements imposed by the other members of the Commission. The Grantee must maintain the bond until this Franchise expires or is terminated. b. The bond shall be conditioned upon Grantee's faithful performance in accordance with the terms of this Franchise, the Cable Ordinance, and applicable laws and regulations. The bond must provide that in the event the Grantee fails to comply with any law, ordinance or regulation, any damages or loss suffered by the City as a result, including the full amount of any compensation, indemnification or cost of removal or abandonment of any property of the Grantee, plus a reasonable allowance for attorneys' fees and costs, up to the full amount of the security, will be recoverable jointly and severally from the principal and surety of the bond, and further guaranteeing payment by the Grantee of claims, liens and taxes due the City which arise. In the event this Franchise is revoked or the rights hereunder relinquished or abandoned by Grantee, the City is entitled to collect any resultant damages, costs or liabilities incurred by the City. C. The City and Grantee acknowledge that it may be difficult or impossible to accurately quantify actual damages or losses suffered by the City due to a violation or unsatisfied obligation under this Franchise, the Cable Ordinance, or applicable laws or regulations. Accordingly, the City may, in its reasonable discretion, collect liquidated damages in an amount of up to Two Hundred and Fifty Dollars ($250.00) per violation of any provision of this Franchise, the Cable Ordinance, or applicable laws or regulations in an amount not to exceed Five Thousand Dollars ($5,000.00) in any calendar year. Each violation may be considered a separate violation for which separate liquidated damages can be imposed. d. In the event the City will make any claim against the bond or otherwise seeks to assess liquidated damages, the City must comply with Section 14 of the Cable Ordinance governing enforcement of this Franchise.