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<br />. . <br /> <br />e <br /> <br />e <br /> <br />e <br /> <br />.... <br /> <br />rr-"--'-"'-"'~'.' .......... .... '.' <br />IT''''';,,:,, <br /> <br />1.~ r <br />i"l <br /> <br />.~, *" r <br /> <br />ARI'ICLE VII. (Reserved) <br /> <br />ARI'ICLE VIII. INDEMNIFICATIOO, INSURANCE, I.E:M'ER OF CREDIT AND BCIID <br /> <br />SEC1'ICIf 1. GmRAL <br /> <br />The City retains all rights of indemnification, insurance, letter of <br />credit or bond as provided in the franchise. <br /> <br />SlCrIQi 2. INI>>tiIFICATIQi AND DGlIWIE <br /> <br />Group W shall fully indemnify, defend and hold harmless, City and all <br />of its agents and employees fran liability and judgments for damages in o:>nnec- <br />tion with: Damage to persons or property, any claim arising out of the franchise, <br />Group Wls failure to comply with provisions of the franchise, or any claim <br />Group W may have against City. <br /> <br />SEC1'ICW 3. DGllWCE <br /> <br />Group W shall maintain liability insurance for the entire term of the <br />franchise for anounts as specified in the franchise and pursuant to the miniml.lll <br />requirements of this section. <br /> <br />SlCrICti 4. IEr1ER (F 0Gl!T <br /> <br />Group W shall maintain an irrevocable and unconditional Letter of <br />Credit. The Letter of Credit shall provide that funds be paid to the City upon <br />demand by the City pursuant to the procedures and minimum requirements of this <br />section. This section further provides minimum anounts for penalties such as <br />failure to construct the system and failure to comply with terms and conditions <br />of the franchise. Said penalties may t:e assessed against Group W by the City <br />and collected directly fran the Letter of Credit. The Letter of Credit must be <br />maintained pursuant to the procedures and requirements of this section. <br /> <br />-6- <br />