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($10,000.00) The form and content Of such letter of credit <br />shall be approved by the County Attorney. The letter of <br />credit shall be used to ensure the faithful performance by <br />the grantee of all provisions of this ordinance and the <br />franchise and compliance with all reasonable orders, permits <br />and directions of any agency of the county having <br />jurisdiction over its acts or defaults under this ordinance <br />or the franchise, and the payment by the grantee of any <br />claims,.Iiens and taxes due the county which arise by reason <br />of the construction, operation or maintenance of the cable <br />television system. <br />The letter of credit shall be maintained at ten <br />thousand dollars ($10,000.00) during the entire term of the <br />franchise, even if amounts are withdrawn pursuant to this <br />section. <br />If the grantee fails to pay to the county any <br />compensation within the time fixed herein; or, fails, after <br />ten (10) days notice to pay to the county any taxes due and <br />unpaid; or, fails to repay the county within such ten (10) <br />days, any damages, costs or expenses which the county shall <br />be compelled to pay by reason of any act or default of the <br />grantee in connection with this ordinance or the franchise; <br />or, fails, after three (3) days notice of such failure to <br />comply with any provision of this ordinance or the franchise <br />which the county manager reasonably determines can be <br />remedied by demand on . the letter of credit, the County <br />34 <br />