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<br />Suburbs, Inc, d/b/a Cable TV North Central and <br />Amendment Agreement No.2, the penalty shall be <br />Five Hundred Dollars ($500.00) per day for each <br />day, or part thereof, such failure occurs or <br />continues. <br /> <br />IX. <br /> <br />Article VIII, Section 5 Bonds. A., is hereby amended to read <br />as follows: <br /> <br />Section 5. Bonds. <br /> <br />A. At the commencement of this Franchise, and at all <br />times thereafter until Grantee has liquidated all <br />of its obligations with City, Grantee shall <br />maintain with City a bond in the sum of Fifty <br />Thousand Dollars ($50,000.00) (which shall be <br />replenishable and increased to Two-Hundred Fifty <br />Thousand ($250,000.00) (in the sole discretion of <br />City) in such form and with such sureties as shall <br />be acceptable to City, conditioned upon the <br />faithful performance by Grantee of this Franchise <br />and the acceptance hereof given by Grantee and upon <br />the further condition that in the event Grantee <br />shall fail to comply with any law, ordinance or <br />regulation there shall be recoverable jointly and <br />severally from the principal and surety of the <br />bond, any damages or losses suffered by City as a <br />result, including the full amount of any <br />compensation, indemnification or cost of removal of <br />any property of Grantee, including a reasonable <br />allowance for attorneys' fees and costs (with <br />interest at two percent (2%) in excess of the then <br />Prime Rate), up to the full amount of the bond, and <br />which bond shall further guarantee payment by <br />Grantee of all claims and liens against City or any <br />public property, and taxes due to City, which" arise <br />by reason of the construction, operation, <br />maintenance or use of the System. <br /> <br />X. <br /> <br />Article IX, Section 1 Notice and Default. B. (2) (d) is <br />hereby deleted. <br /> <br />XI. <br /> <br />Article XIV, Section 2. Time of Acceptance: Guarantee: <br />Incorporation of Offering: Exhibits. C is hereby amended to read <br />as follows: <br /> <br />6 <br />