Ordinance 2613-02 - Laserfiche WebLink

(3) Monetary remedies or damages assessed against Grantee as provided in this Franchise. (D) The City shall give Grantee written notice of any withdrawal under this subsection upon such withdrawal. Within twenty-one (21) days following receipt of such notice, Grantee shall restore the letter of credit to the amount required under this Franchise. Grantee's maintenance of the letter of credit shall not be construed to excuse unfaithful performance by Grantee or limit the liability of Grantee to the amount of the letter of credit or otherwise limit the City's recourse to any other remedy available at law or in equity. (E) Grantee shall have the right to appeal to the City Council for reimbursement in the event Grantee believes that the letter of credit was drawn upon improperly. Grantee shall also have the right of judicial appeal if Grantee believes the letter of credit has not been properly drawn upon in accordance with this Franchise. Any funds the City erroneously or wrongfully withdraws from the letter of credit shall be returned to Grantee with interest, from the date of withdrawal at a rate equal to the prime rate of interest as quoted in the Wall Street Journal. 5.5 Bonds (A) Upon commencement of the Cable System upgrade, Grantee shall provide a construction bond in the amount of two hundred fifty thousand dollars ($250,000) to ensure the faithful performance of its responsibilities under this Franchise and applicable law, including, by way of example and not limitation, its obligations to restore Rights-of-Way and other City property. The construction bond shall be with a surety licensed to do business in Washington. The Grantee shall keep the construction bond in full force and effect until the upgrade of the Cable System has been completed to the reasonable satisfaction of the City and all restoration of public and private property shall have occurred regarding thereto. Thereafter, the City shall release the construction bond. (B) Grantee may be required to obtain additional bonds in accordance with the City's bonding requirements. Grantee shall pay all premiums or costs associated with maintaining any bond(s), and shall keep the same in full force and effect. (C) Grantee's maintenance of the bond(s) shall not be construed to excuse unfaithful performance by Grantee or limit the liability of Grantee to the amount of the bond(s) or otherwise limit the City's recourse to any other remedy available at law or in equity. SECTION 6. CUSTOMER SERVICE 6.1 Customer Service Standards Grantee shall comply with Customer Service Standards of the City, as the same may be adopted and amended from time to time by the City Council acting by ordinance. Grantee reserves the right to challenge any customer service ordinance which it believes is inconsistent with its contractual rights under this Franchise. Page 24 of 58