Agenda - 11-24-1980 - Laserfiche WebLink

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full force and effect for the term of such permit or any i renewal thereon; i (i) h good and sufficient liability insurance E policy or policies, providing three hundred thousand doll rs ($300,000.00) coverage for personal injuries to each person; five hundred thousand dollars ($500,000.00) coverage for all 's personal injuries in each accident; and three hundred thous_nd ' dollars ($300,000.00) coverage for all property damaga in each accident. The policy or policies shall name the county as an { additional insured and shall be for the purpose of insuring I the county against any and all legal liability, court costs, dais: or demand for personal injury, death or property damage 1 arising out of the operations of the grantee under this ordinance j or its franchise. !� (ii) A good and sufficient insurance policy with i one hundred thousand dollars ($100,000.00) limits of liability for each acci.d nt naming the county as insured and insuring the county against damage to its property arising out of the operat-- i ions of the grantee under this ordinance (f) concurrently with the filing of the written acceptance as requircd in section VI, the grantee shall file i i with the County Manager, a corporate surety bond in a company 1 I authorized to do business in the state of North Carolina ad n I� found acceptable by the County attorney, in the anoint of fifty thousand dollars ($50,000.00) to guarantee the timely construction and full activation of the cable television system. } The bond shall provide, but not be limited to, the following condition: There shall be recoverable by the county, jointly and severally from the principal and surety, I any and all damages, lass or costs suffered by the county resulting from the failure of the grantee to satisfactorily -19- complete and fully activate the cable television system pursuant F Sz.DicI;EFSON NTMrJFY5 AT LAW to the terms of the franchise. CKAPEL HILL.N.C.. HILISSOROUCH,NC.