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A. The grantee shall, concurrently with the filing of an acceptance of award of any franchise granted under this chapter, furnish to the City and file with the City Clerk and at all times during the existence of any franchise granted hereunder, maintain in full force and effect, at its own cost and expense, a liability insurance policy in the amount of $100,000 in a company approved by the City Manager and in a form satisfactory to the City Attorney, indemnifying and saving harmless the City, its officers and employees from and against any and all claims, demands, actions, suits, and proceedings by others, against all liability for damages by reason of or arising out of any failure by the grantee to secure consents from the owners, authorized distributors or licensees of programs, to be delivered by the grantee’s CATV system, and against any loss, cost, expense and damages resulting therefrom, including reasonable attorney’s fees, arising out of the exercise or enjoyment of its franchise, irrespective of the amount of the comprehensive liability insurance policy required hereunder.

B. The grantee shall, concurrently with the filing of an acceptance of award of any franchise granted under this chapter, furnish to the City and file with the City Clerk, and at all times during the existence of any franchise granted hereunder, maintain in full force and effect, at its own cost and expense, a general comprehensive liability insurance policy in protection of the City, its officers, boards, commissions, agents and employees, in a company approved by the City Manager and a form satisfactory to the City Attorney, protecting the City and all persons against liability for loss or damage for personal injury, death and property damages, occasioned by the operations of grantee under such franchise, with minimum liability limits of $250,000, for personal injury or death of any one person and $500,000 for personal injury or death of two or more persons in any one occurrence and $50,000 for damage to property resulting from any one occurrence.

C. The policies mentioned in subsection B of this section shall name the City, its officers, boards, commissions, agents and employees, as additional insureds and shall contain a provision that a written notice of cancellation or reduction in coverage of said policy shall be delivered to the City 10 days in advance of the effective date thereof; if such insurance is provided by a policy which also covers grantee or any other entity or person other than those above named, then such policy shall contain the standard cross-liability endorsement.