Laserfiche WebLink
236 <br /> <br />9.4 <br /> <br />9.5 <br /> <br />The County may require the foregoing insurance <br />doverage to be changed from time to time during the <br />term of the franchise. <br /> <br />Workmen's Compensation Insurance shall also be pro- <br />vided as required by the laws of the State of North <br />Carolina, as amended. <br /> <br />Ail said insurance coverage shall provide a thirty (30) <br />day notice to the County Manager in the event of <br />material alteration or cancellation of any coverage <br />afforded in said policies prior to the date said <br />material alteration or cancellation shall become <br />effective. <br /> <br />A certificate of coverage for all policies required <br />hereunder shall be furnished to and filed with the <br />County Manager, prior to the commencement of operations, <br />or expiration of prior policies, as the case may be. <br /> <br />Non-Waiver: Neither the provisions of this section, <br />nor any bonds accepted by the County pursuant hereto, <br />nor any damage recovered by the County hereunder, <br />shall be construed to excuse unfaithful performance <br />by the franchisee or limit the liability of the <br />franchisee under this ordinance or the franchise for <br />damages, either to the full amount of the bond, or <br />otherwise. <br /> <br />Faithful Performance Bond: The franchisee shall, <br />concurrently with its acceptance of this franchise, <br />file with the County Manager and at all times there- <br />after maintain in full force and effect for the term <br />of this franchise or any renewal thereof, at franchi- <br />see's sole expense, a corporate surety bond in a <br />responsible company licensed to do business in <br />North Carolina and approved by the County, in the <br />amount of $100,000.00 renewable annually, and con- <br />ditioned upon the faithful performance of the <br />franchisee, and in accordance with the~.~provisions <br />of this ordinance and upon the further condition <br />that in the event franchisee shall fail to comply <br />with any one or more of the provisions of the fran- <br />chise, there shall be recoverable jointly and <br />severally from the principal and surety of such <br />bond any damages or loss suffered by the County as <br />a result thereof, including the full amount of any <br />compensation, indemnification, or cost of removal <br />or abandonment or any property of the franchisee <br />as prescribed hereby, plus a reasonable allowance <br />for attorneys' fees and costs, up to the full amount <br />of the bond, said condition to be a continuing obli- <br />gation for the duration of the franchise and any re- <br />newal thereof and thereafter until the franchisee <br />has liquidated all of its obligations with the County <br />that may have arisen from the acceptance of this <br />franchise or renewal by the franchisee or from its <br />exercise of any privileges or rights herein granted. <br />The bond shall provide that at least thirty (30) days <br />prior written notice of intention not to renew, can- <br />cellation, or material change be given to the County <br />by filing the same with the County Manager, Not- <br />withstanding the above provisions of this subsection, <br />the Board of Commissioners may in its sole discre- <br />tion waive said bond or reduce the required amount <br />thereof after two (2) years of operation of a system <br />under the franchise, by the franchisee, its successors <br />or assigns, which, in the sole opinion of the Board <br />of Commissioners, has been satisfactory, Failure <br />to keep a performance bond in force at all times <br />as herein provided shall constitute an event of <br />default. <br /> <br />9.6 D.eposit in Lieu of Bo~d.: In lieu of the performance <br /> <br /> <br />