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<br /> 4.9. Payment on Termination
<br /> If this Franchise terminates for any reason, the Grantee shall file with the City within ninety (90)
<br /> calendar days of the date of the termination, a financial statement showing the Gross Revenues
<br /> received by the Grantee since the end of the previous fiscal year. The City reserves the right to
<br /> satisfy any remaining financial obligations of the Grantee to the City by utilizing the funds available
<br /> in the irrevocable letter of credit or performance bond provided by the Grantee.
<br /> 5. ADMINISTRATION AND REGULATION
<br /> 5.1. Authority
<br /> A. The City shall be vested with the power and right to reasonably regulate the exercise of the
<br /> privileges permitted by this Franchise in the public interest, or to delegate that power and right, or
<br /> any part thereof,to the extent permitted under law to any agent in its sole discretion.
<br /> B. Nothing in this Franchise shall limit nor expand the City's right of eminent domain under State
<br /> law.
<br /> 5.2. Time Limits Strictly Construed
<br /> Whenever this Franchise sets forth a time for any act to be performed by Grantee,such time shall be
<br /> deemed to be of the essence, and any failure of Grantee to perform within the allotted time may be
<br /> considered a material breach of this Franchise, and sufficient grounds for the City to invoke any
<br /> relevant remedy.
<br /> 6. FINANCIAL AND INSURANCE REQUIREMENTS
<br /> 6.1. Indemnification
<br /> 6.1.1. GENERAL INDEMNIFICATION
<br /> Grantee shall indemnify,defend and hold the City,its officers,officials,boards,commissions,
<br /> employees,agents,representatives,and volunteers,harmless from any action or claim for injury,
<br /> damage,loss,liability,cost,or expense,including court and appeal costs and attorneys'fees or
<br /> expenses, arising from any casualty or accident to Person or property,including,without limitation,
<br /> copyright infringement,defamation,and all other damages in any way arising out of,or by reason
<br /> of,any construction,excavation,operation,maintenance,reconstruction, or any other act done
<br /> under this Franchise,by or for Grantee,its agents,or its employees,or by reason of Grantee's
<br /> conduct. Grantee shall consult and cooperate with the City while conducting its defense of the City.
<br /> Indemnification for Relocation
<br /> 6.1.2. INDEMNIFICATION FOR RELOCATION
<br /> Grantee shall indemnify the City for any damages, claims, additional costs or expenses assessed
<br /> against, or payable by, the City arising out of, or resulting from, directly or indirectly, Grantee's
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