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The bond shall provide, but not be limited to, the <br />following condition: There shall be recoverable. by the <br />county, jointly and severally from the principal and surety, <br />any and all damages, loss or costs suffered by the county <br />resulting from the failure of the grantee to satisfactorily <br />complete and fully activate the cable television system <br />pursuant to the terms of the franchise. <br />Any extension to the prescribed time limit must be <br />authorized by the board. Such extension shall be authorized <br />only when the board finds that such extension is necessary <br />and appropriate due to causes beyond the control of the <br />grantee. <br />The construction bond shall be terminated only <br />after the board finds that the company has satisfactorily <br />completed and fully activated the cable system pursuant to <br />the terms of the franchise. <br />The rights to the county with respect to the <br />construction bond are in addition to all other rights of the <br />county, whether reserved by this ordinance or authorized by <br />law, and no action, proceeding or exercise of a right with <br />respect to such construction bond shall effect any other <br />right the county may have. <br />(9) Concurrently with the filing of the written <br />acceptance as required in Section VT, the grantee shall <br />deposit with the County Manager a letter of credit from a <br />financial institution in the amount Of tell thousand dollars <br />33 <br />