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Cablevision/Mayfield Village Franchise Agreement 2000 Page No. -11- Section 17. Performance Bond. (a) Within sixty (60) days of the passage of the Ordinance authorizing execution of this Franchise Agreement, Grantee shall provide to and deposit with Grantor a Performance Bond in the form of a Surety Bond in the amount and under the terms and conditions as stated in Section of the Codified Ordinances to insure the faithful performance .by Grantee of provisions of the Codified Ordinances and this Franchise Agreement, other than with respect to construction, upgrading, or rebuilding projects covered herein, but including the obligation to remove the above-ground Cable System upon revocation or termination of the Franchise as set forth in the Codified Ordinances. The choice between a Surety Bond or Letter of Credit shall be made by Grantee, the form of which shall be subject to approval by Grantor (such approval not to be unreasonably withheld): (b) Nothing herein shall be deemed a waiver of the normal permit and bonding requirements for all. contractors working within Grantor's rights-of--way. Section 18. Procedure for Remedying Franchise Violations. (a) The procedures for remedying violations or breaches of this Franchise Agreement shall be consistent with the procedures of the Codified Ordinances. (b) Grantor, by action of the Mayor, shall first notify Grantee of any material violation in writing by personal delivery or registered or certified mail, and demand correction within a reasonable time, which shall not be less than fifteen (1 ~) days in the case of the failure of Grantee to pay any sum or other amount due Grantor under this Agreement or the Codified Ordinances, and thirty (30) days in all other cases or a greater amount of time for those alleged failures which Grantor agrees cannot be reasonably remedied within thirty (30) days. If Grantee fails to correct the violation within the time prescribed, or if Grantee fails to commence corrective action within the time prescribed and diligently remedy such violation thereafter, Grantee shall then be given written notice of not less than ~venty (20) days of a public hearing to be held before Council. Said notice shall. specify the violations alleged to have occurred. (c) At the public hearing, the Council shall hear and consider all relevant evidence, and, thereafter, render findings and its decision. (d) In the event the Council finds that Grantee has corrected the violation, or has diligently commenced correction of such violations after notice thereof from Grantor and is diligently proceeding to fully remedy such violation, or that no material violation has occurred, the proceeding shall terminate and no penalty or other sanction shall be imposed. In determining whether a violation is material, Grantor shall take into consideration the reliability of the evidence of the violation, the nature of the violation and the damage, if any, caused to the Grantor thereby, whether the violation was chronic, and any justifying or mitigating circumstances and such other matters as the Grantor may deem appropriate. (e) In the event that the Council finds that a material violation exists and that Grantee M & M 1999 - Page I 1 of 28