FINAL ORDINANCE NO. 97-051 - Laserfiche WebLink

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Grantee, without interest, all monies drawn from the Letter of Credit by reason of the alleged violation. g. If said Letter of Credit or any subsequent Letter of Credit delivered pursuant thereto expires prior to thirty (30) months after the expiration of the term of this Franchise, it shall be renewed or replaced during the term of this Franchise to provide that it will not expire earlier than thirty (30) months after the expiration of this Franchise. The renewed or replaced Letter of Credit shall be of the same form and with a bank authorized herein and for the full amount stated in Paragraph A of this Section. h. If City or Commission, as applicable, draws upon the Letter of Credit or any subsequent Letter of Credit delivered pursuant hereto, in whole or in part, Grantee shall replace or replenish to its full amount the same within ten (10) days and shall deliver to Commission a like replacement Letter of Credit or certification of replenishment for the full amount stated in Section 9.2 (a) as a substitution of the previous Letter of Credit. This shall be a continuing obligation for any draws upon the Letter of Credit. i. If any Letter of Credit is not so replaced or replenished, City or Commission may draw on said Letter of Credit for the whole amount thereof and use the proceeds as City or Commission determines in its sole discretion. The failure to replace or replenish any Letter of Credit may also, at the option of the City or Commission, be deemed a default by Grantee under this Franchise. The drawing on the Letter of Credit by City or Commission, and use of the money so obtained for payment or performance of the obligations, duties and responsibilities of Grantee which are in default, shall not be a waiver or release of such default. The collection by City or Commission, as applicable, of any damages, monies or penalties from the Letter of Credit shall not affect any other right or remedy available to either, nor shall any act, or failure to act, by City or Commission, as applicable, pursuant to the Letter of Credit, be deemed a waiver of any right of City or Commission, as applicable, pursuant to this Franchise or otherwise. 3. Indemnification of City. a. City, Commission, its officers, boards, committees, commissions, elected officials, employees and agents shall not be liable for any loss or damage to any real or personal property of any Person, or for any injury to or death of any Person, arising out of or in connection with Grantee's construction, operation, maintenance, repair or removal of the System or as to any other action of Grantee with respect to this Franchise. 30