1997 045 Ordinance - Laserfiche WebLink

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(e) Standard form of cross-liability shall be afforded. (f) An endorsement shall be provided which states that the policy shall not be canceled or materially altered so as to be out of compliance with the requirements of this Section, without thirty (30) days written notice of such cancellation or alteration given to the Village. (3) If the insurance is canceled or materially altered so as to be out of compliance with the requirements of this Section, the Permittee shall provide a replacement policy. Permittee agrees to maintain continuous uninterrupted insurance coverage, in the amounts required. (4) The Village reserves the right to adjust the coverage limit requirement upward in the event the statutory maximums applicable to local governments are raised and that such increased coverage limit requirements are equally applied to all other Permittees of the Village. (5) Any deductible or self-insured retention must be declared to the Village. (6) Permittee shall submit to and maintain on file with the Village documentation of the required insurance including a certificate of insurance signed by the insurance agent and companies named, as well as all properly executed endorsements. Said certificate shall be subject to the approval of the Village as to the adequacy of the certificate and of the insurance certified under the requirements of this Section. (7) Failure of the Permittee to maintain adequate insurance as required under this Section shall be cause for immediate termination of the Permit by the Village. (8) Nothing herein shall be in any way construed as a waiver on behalf of the Village of any of the protections or provisions of the Ohio Governmental Immunity Act and the Permittee shall ensure that in naming the Village as an insured under this Section, all insurance policies or agreements shall specifically contain anon-waiver provision, and shall not impair said protection and provisions. 6.4 Securi (1) With respect to the initial construction of the Telecommunications and/or other Utility System, or any significant project to upgrade or rebuild more than fifty percent (50%) of the Telecommunications and/or other Utility System, Permittee shall provide to the Village a construction performance and construction completion bond (hereinafter referred to as the "Construction Completion Bond") with a surety reasonably approved by the Village's Law Director, in an amount equal to ten percent (10%) of the applicable construction cost. Such amount shall not exceed two hundred thousand dollars ($200,000.00). With respect to initial construction of the Telecommunications and/or other Utility System or the upgrade or rebuild project, when regular subscriber service is available to seventy-five percent (75%) of occupied dwelling units, amount of the bond shall be reduced by fifty percent (50%) of the original amount. On the one-year anniversary of the initial construction of the Telecommunications and/or other Utility System or the upgrade or rebuild project, as the case may be, the bond may be canceled. 25