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SECTION 7. <br /> INSTITUTIONAL NETWORK (I-NET) PROVISIONS <br /> This Section contains provisions requiring the company to dedicate certain capacity for use by <br /> designated institutions, and contains terms and conditions for the usage and performance of this <br /> institutional network. <br /> SECTION 8. <br /> OPERATION AND ADMINISTRATION PROVISIONS <br /> This Section contains provisions requiring the company to pay quarterly to City or its delegatee <br /> a Franchise Fee in an amount equal to five percent (5%) of its quarterly Gross Revenues. In <br /> addition, the City shall have the right to require the company to provide copies of any records and <br /> the company must file with the City a report of all Gross Revenues and shall furnish such other <br /> reasonable reports with respect to operations may be required. If requested, the company shall <br /> furnish the maps, plats, and permanent records of the location and character of all facilities. <br /> Finally, the City may require evaluation sessions at any time during the term of this Franchise. <br /> As a result of a review session, the company will meet with City and undertake good faith efforts <br /> to reach agreement on changes and modifications to the Franchise which are both economically <br /> and technically feasible. <br /> SECTION 9. <br /> GENERAL FINANCIAL AND INSURANCE PROVISIONS <br /> This Section contains provisions requiring the company to furnish a performance bond to City in <br /> the amount of$500,000.00 and deliver to City an unconditional Letter of Credit from a National <br /> or State bank approved by City in the amount of$25,000.00 to secure compliance with the terms <br /> of the Franchise. <br /> In addition, this Section provides that the City and its agents shall not be liable for any loss or <br /> damage arising out of any action of the company with respect to this Franchise. <br /> Finally, as a part of the indemnification above, the company shall maintain a comprehensive <br /> general liability insurance policy for any and all damages and penalties which may arise as a result <br /> of this Franchise in the sum of not less than$1,000,000.00 for personal injury or death of any one <br /> Person, and $2,000,000.00 for personal injury or death of two or more Persons in any one <br /> occurrence, $500,000.00 for property damage to any one person and $2,000,000.00 for property <br /> damage resulting from any one act or occurrence. <br /> SECTION 10. <br /> SALE, ABANDONMENT, TRANSFER AND REVOCATION OF FRANCHISE <br /> This Section provides that the City reserves the right to revoke, this Franchise, if it is determined <br /> by City that the company has violated material provisions(s) of this Franchise, has attempted to <br /> 3 <br />