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=XHIBIT /..✓ <br />ARTICLE VIII. SECTION 5.A. <br />SECTION 5. BONDS <br />A. At the commencement of this Franchise, and at all times <br />thereafter until Grantee has liquidated all of its <br />obligations with City, Grantee shall maintain with City a <br />bond in the Sober} sum of Frv.e- Hutndred Fifty Thousand Dollars <br />($500,000.00) ($50.000.00) (which shall be replenishable and <br />increased to Two - Hundred Fifty Thousand ($250,000 00) in the <br />sole discretion of City) in such form and with such sureties <br />as shall be acceptable to City, conditioned upon the <br />faithful performance by Grantee of this Franchise and the <br />acceptance hereof given by Grantee and upon the further <br />condition that in the event Grantee shall fail to comply <br />with any law, ordinance or regulation, there shall be <br />recoverable jointly and severally from the principal and <br />surety of the bond, any damages or losses suffered by City <br />as a result, including the full amount of any compensation, <br />indemnification or cost of removal of any property of <br />Grantee, including a reasonable allowance for attorneys( <br />fees and costs (with interest at two percent (2 %) in excess <br />of the then Prime Rate), up to the full amount of the bond, <br />and which bond shall further guarantee payment by Grantee of <br />all claims and liens against City or any public property, <br />and taxes due to City, which arise by reason of the <br />constru,citon, operation, maintenance or use of the System. <br />Page 66 <br />