Agenda - 01-08-1990 - Laserfiche WebLink

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CONDUIT FACILITIES Licensor that policy or policies of insurance, as required under Section 13 hereof, will be canceled or changed, then this Agreement shall cease and terminate upon the effective date of such cancellation, unless Licensee provides replacement policies prior to cancellation date. 25. Licensee shall furnish a bond issued by a company satisfactory to Licensor to cover the faithful performance by Licensee of its obligations under this Agreement The amount of the bond shall be computed on the basis of $1 for each conduit duct foot placed in by Licensee provided, however, that the minimum amount of said bond shall be $1,000. All bonds must specify that the Licensor be notified thirty (30) days prior to the expiration or cancellation of the bond. 26. Licensor, because of the importance of its service, reserves the right to make periodic inspections of installations of Licensee in its conduit system; and Licensee shall, on demand, reimburse,e Licersor for the expense of such inspections. Inspections will not be made more often than once each three years and upon notice to Licensee unless, in Licersor's judgment, such inspections are required for reasons involving safety or because of a violation of the terms of this Agreement by Licensee. Such inspections, made or not, shall not operate to relieve Licensee of any responsibility, obligation, or liahility assumed under this Agreement. Should such inspections reveal any unauthorized placement, Licensee shall pay to Licensor rental as specified in Section 10 hereof, retroactive to the date such placement was made, if known, or if not known, then to the date of the most recent prior inspection or the date of this Agreement, whichever is later. 27. Subject to the provisions of Section 24 hereof, this Agreement shall extend to and bind the successors and assigns of the parties hereto. 28. A31 prior placement Agreements and Supplements thereto between the parties hereto for the use of the conduit system upon a rental basis within the territory covered by this Agreement are hereby terminated; and all placements in the conduit system after the effective date of this Agreement shall be governed and paid for in accordance with the terms hereof.