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I . PAGE THREE ORDINANCE NO. 307 JUNE 29, 1998 SECTION 7. INSTITUTIONAL NETWORK (I-NET) PROVISIONS This Section contains provisions requiring the company to dedicate certain capacity for use by designated institutions, and contains terms and conditions for the usage and performance of this institutional network. SECTION 8. OPERATION AND ADMINISTRATION PROVISIONS This Section contains provisions requiring the company to pay quarterly to City, or its delegatee, a Franchise Fee in an amount equal to five percent (5%) of its quarterly Gross Revenues. In addition, the City shall have the right to require the company to provide copies of any records, and the company must file with the City a report of all Gross Revenues and shall furnish such other reasonable reports with respect to operations as may be required. If requested, the company shall furnish the maps, plats, and permanent records of the location and character of all facilities. Finally, the City may require evaluation sessions at any time during the term of this Franchise. As a result of the review session, the company will meet with City and undertake good faith . efforts to reach agreement on changes and modifications to the Franchise which are both economically and technically feasible. SECTION 9. GENERAL FINANCIAL AND INSURANCE PROVISIONS This Section contains provisions requiring the company to furnish a performance bond to City in the amount of $500,000 and deliver to City an unconditional Letter of Credit from a National or State Bank approved by City in the amount of$25,000 to secure compliance with the terms of the Franchise. In addition, this Section provides that the City and its agents shall not be liable for any loss or damage arising out of any action of the company with respect to this Franchise. Finally, as a part of the indemnification above, the company shall maintain a comprehensive general liability insurance policy for any and all damages and penalties which may arise as a result of this Franchise in the sum of not less than $1,000,000 for personal injury or death of any one Person, and $2,000,000 for personal injury or death of two or more Persons in anyone occurrence, $500,000 for property damage to anyone person and $2,000,000 for property damage resulting from anyone act or occurrence. .