Ordinance 3319 - Laserfiche WebLink

Section 12. This franchise is granted upon the express condition that the Grantee within forty (40) days after the adoption of this Ordinance shall file with the Clerk of the City of Everett a written acceptance of the same, and when so accepted by the company shall constitute a contract between the city and the company for all the uses, services, and pur- poses herein set forth. section 13 . The City Council of the City of Everett may, by ordinance, forfeit the franchise herein :;ranted, in the event that the Grantee, or its assigns, shall, after rea- sonable notice from the City Council requiring it to do so, fail to comply with any of the provisions of said franchise. Section 14. The grantee agrees to post a surety bond in the face amount of '10,000.00, with one or more sufficient t sureties satisfactory to the Grantor with the Grantor as bene- 5 ficiary thereunder, which bond shall be in effect at all times during the period of this franchise, and said bond shall insure ti} and guarantee unto the Grantor the faithful performance by the Grantee of all the terms and conditions herein and in addition said bond shall indemnify and hold harmless the Grantor from any and all claims that may arise by the acts of the Grantee pursuant to and as a result of this franchise. It is understood that the provisions of this section shall have been complied with by Grantee if it posts a oond in the amount and upon the conditions as above stated for a period of one year, as a minimum, or for a longer period at Grantee ' s option, provided that said bond is renewed for a like period at least thirty (30) days before its effective expiration date, as it is understood by Grantor and Grantee that no bond conditioned as aforesaid is obtainable for the full twenty-five (25) year period of this franchise. -7-