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r... ..~, CITY OF N~iH OLMSTED ..,. ORDINANCE N0. 80-29 PAGE 16 orders, permits and directions of any agency, commission, board, de- partment, division of office of the City having jurisdiction over its acts or defaults under this franchise; and the payment by the Grantee of any claims, liens, and taxes due the City which arise by reason of the construction, operation or maintenance of the system. (b) The Letter of Credit shall be maintained at Fifty Thousand Dollars ($50,000.00) during the entire term of this franchise, even if amounts have to be withdrawn pursuant to Subsections (a) or (c) of this Section. (c) If the Grantee fails to pay the City any compensation within the time fixed herein, or fails after ten (10) days notice to pay to the City any taxes due and unpaid, or fails to repay the City within such ten (10) days any damages, costs or expenses which the City is compelled to pay by reason of the act or default of the Grantee in connection with this franchise, or fails after three (3) days notice of such failure by the City to comply with any provision of this franchise which the City reasonably determines can be remedied by demand on the Letter of Credit, the City may, subject to the fol- lowing paragraph, request payment of the amount thereof, with interest and any penalties, from the Letter of Credit. Upon such request for payment, the City shall notify the Grantee of the amount and date thereof. Notwithstanding the preceding paragraph, in case of a bonafide dispute regarding compliance, the Grantee may request a hearing before the Mayor or designate within thirty (30) days after notification of non-compliance and penalty by the City. No action may be taken on said Letter of Credit until a prior hearing with an opportunity to be heard has been conducted. At such hearing, all parties may give evidence, and the merits of the dispute will be decided. The Mayor or designate shall make public his decision, along with a statement reciting the basis therefor. Within thirty (30) days, the Grantee may appeal to the Council, in writing, the decision rendered by the Mayor or designate. At the appeal hearing, the Grantee may contest the findings of fact or interpretation of controlling law, at which time the Council may affirm, reject or modify the decision of the Mayor or designate. The affirmance, rejection or modification of said decision by the Council shall be f final . (d) The rights reserved to the ter of Credit are in addition to all whether reserved by negotiation with by law, and no action, proceeding or respect to such Letter of Credit sha City may have. City with respect to the I~et- other rights of the City, the Grantee or authorized exercise of a right with 11 affect any other right the (e) The Letter of Credit shall contain the following endorsement: "It is hereby understood and agreed that this Letter of Credit may not be cancelled by the surety nor the inten- tion not to renew be stated by the surety until thirty (30) days after receipt by the City of North Olmsted, Ohio, by registered mail, of a written notice of such intention to cancel or not to renew." SECTION 21: PERFORMANCE BOND (a) Within thirty (30) days after the award of this franchise, the Grantee shall file with the Clerk of the Council. a Performance Bond or Let- ter of Credit in the amount of Five Hundred Thousand Dollars ($500,OOO.OU) in 'favor of the City. This Bond shall be maintained throughout the construc- tion period for the initial service area of the franchise. (b) In the event that the Grantee fails to comply with any law, ordinance or regulation governing the construction of the cable television system, or fails to well and truly observe, ful- fill and perform each term and condition of the franchise pertain- ing to such construction, including proposals contained in Grantee`s