Laserfiche WebLink
City of Tukwila My WebLink |HelpSearch Tips |About |Sign Out
(i) Failure to Maintain Insurance. Failure on the part of Franchisee to <br />maintain the insurance as required shall constitute a material breach of Franchise, upon <br />which the City may, after giving five business days' notice to Franchisee to correct the <br />breach, terminate the Franchise or, at its discretion, procure or renew such insurance and <br />pay any and all premiums in connection therewith, with any sums so expended to be <br />repaid to the City on demand. <br />(j) City Full Availability of Franchisee Limits. If Franchisee maintains <br />higher insurance limits than the minimums shown above, the City shall be insured for the <br />full available limits of Commercial General and Excess or Umbrella liability maintained by <br />Franchisee, irrespective of whether such limits maintained by Franchisee are greater than <br />those required by this Franchise or whether any certificate of insurance furnished to the <br />City evidences limits of liability lower than those maintained by Franchisee. <br />(k) Franchisee — Self -Insurance. If Franchisee is self -insured or <br />becomes self -insured during the term of the Franchise, Franchisee or its affiliated parent <br />entity shall comply with the following: (i) provide the City, upon request, a copy of <br />Franchisee's or its parent company's most recent audited financial statements, if such <br />financial statements are not otherwise publicly available; (ii) Franchisee or its parent <br />company is responsible for all payments within the self -insured retention; and (iii) <br />Franchisee assumes all defense and indemnity obligations as outlined in Section 19. <br />Section 21. Bonds. <br />Section 21.1. Construction Performance Bond. Upon an application for a permit <br />involving excavation, installation, construction, restoration or relocation of the Facilities <br />and if required by the City, Franchisee shall furnish a performance bond ("Performance <br />Bond") written by a corporate surety reasonably acceptable to the City in an amount equal <br />to 150% of the construction cost, which should not be less than $2,000. The amount of <br />the Performance Bond may be reduced during construction as determined by the City. <br />The Performance Bond shall guarantee the following: (1) timely completion of <br />construction; (2) construction in compliance with all applicable plans, permits, technical <br />codes, and standards; (3) proper location of the Facilities as specified by the City; (4) <br />restoration of the Rights -of -Way and other City properties affected by the construction; <br />Page 29 of 45 <br />{E F M 4895-9658-9257;1/13175.000042/} <br />33 <br />