Ordinance No. 19359 - Laserfiche WebLink

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shall be made available to Grantor at the expense of the Grantee. ~5~ Com ensation Nat a Credit A ainst Certain Taxes and Fees. Nothing contained in this franchise shall give the Grantee any credit against any nondiscriminatory business tax, or ad valorem property tax, now or here- after levied against real or personal property within the city, or against any local improvement assessment imposed on Grantee, ar against any permit fees ar inspection fees required by the construction codes ar other ordi- nances of the Grantor which are or may hereafter be adopted. Section 1~. Perfarmance Bond and Liability insurance. ~1~ Perfarmance Band. Upon being granted a f ranchise, and upon the filing of the acceptance required under Section 15~~~ hereof, Grantee shall file with Grantor and shall thereafter, annually, during the entire term of such f ranchise, maintain in full farce and effect a corporate surety bond or other adequate surety agreement in the amount of $~5,oaa. The bond or agree- ment shall be so conditioned that in the event that Grantee shall fail to materially comply with any one or mare of the provisions of such franchise, then there shall be recoverable jointly and severally from the principal and surety any damages or loss, or costs suffered or incurred by the Grantor as a result thereof, including attorneys' fees and costs of any action or pro- ceeding, and including the full amount of any compensation, indemnification, cost of removal or abandonment of any property, or other costs .which may be in default, up to the full principal amount of such bond. Such condition shall be a continuing obligation during the entire term of such franchise and thereafter unti l Grantee shal 1 have satisfied i n f ul 1 any and al 1 obligation s to the Grantor which arise out of or pertain to said franchise. In lieu of the band agreement, Grantee may deposit cash with the Grantor or in a Federal or State of aregon bank or savings and loan association on terms and condi- tions approved by the Grantor and the Grantee. Neither the provisions of Grdinance - 1$