Laserfiche WebLink
o <br /> C <br /> Grantee's contractors and subcontractors:shall be licensed and bonded in subcontractors subjth isct to it ''s <br /> ordinances,regulations and requirements. Work by contractors <br /> same restrictions, limitations and conditions as if the work were contractorspand snbcon actorsd by e and others <br /> Grantee <br /> shall be responsible for all work performed by its <br /> performing work on its behalf as if the work were performed by it,ande shaw,and shall all nsure t l such <br /> work is performed in compliance with this Franchise and o app <br /> licaand severally liable for all damages and correcting all damage caused by them. It is Grantee'se <br /> responsibility to ensure that contractors, subcontractors or other Persons performing <br /> work n <br /> Grantee's behalf are familiar with the requirements of this Franchise and other applicable laws • <br /> governing the work performed by them. <br /> 8.18. Construction =and <br /> construction, Grantee shall provide an Assurance to ensure the faithful <br /> A. Prior to commencing including, wayof <br /> performance of its responsibilities under this Franchise and applicable <br /> other property. The of <br /> example and not limitation,its obligations to restore City <br /> the Assurance shall be two hundred fifty thousand dollars ($250,000), or such lesser or greater <br /> amount as is comparable to that required of Telecommunication System <br /> rmpro providers <br /> the amount in the ity ofor <br /> r <br /> construction projects of comparable size, cost and complexity. <br /> Assurance shall not exceed 125%of the Permittee's estimated <br /> cost st ofasthe fated wrath ins ction in the pug the <br /> c <br /> rights of way of the City. Grantee shall pay all premiums or <br /> Assurance, and shall keep the same in full force and all restoration <br /> eu l do e of construction <br /> str public ofprthe <br /> Telecommunications System shall have been completed and <br /> property shall have occurred regarding thereto. Thereafter, the Assurance shall be exonerated, <br /> subject to the mutual written agreement of the parties. <br /> B. The Assurance may be drawn upon by the City for any proper purpose under this Franchise or <br /> as otherwise provided by applicable law. <br /> C. The City shall give Grantee written notice of any withdrawal Grantee shall reer this subsection store the <br /> on such <br /> withdrawal. Within seven (7) days following receipt of such notice, <br /> Assurance to the amount required under this Franchisane.c ant�'sanmea'o mainteo nance .°f the Assurance <br /> t the liability of <br /> shall not be construed to excuse unfaithful perform by <br /> Grantee to the amount of the Assurance or otherwise to limit the City's recourse to any other <br /> remedy available at law or equity. <br /> D. Grantee shall have the right to appeal to the Chief Financial Officer for re bursemshall ment hinve ththe <br /> e <br /> event Grantee believes that the Assurance was drawn upon improperly. <br /> right of judicial appeal if Grantee believes the Assuranceor has wrongfully t been properly <br /> withdraws from the <br /> upon in <br /> accordance with this Franchise. Any funds the City erroneously <br /> Assurance shall be returned to Grantee with interest, from the date of withdrawal at a rate equal to <br /> the prime rate of interest as quoted in the Wall Street Journal. <br /> 22 of 31 <br /> CO <br />