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provide that no cancellation shall become effective without thirty (30) days' prior written notice to the City of intent to cancel or not to renew. In the event such insurance is cancelled and the franchisee shall fail to immediately replace it with another equivalent policy, the City may terminate their franchise and declare it to be forfeited. if IFAF61111 lei 11 Did leiIW[4111YMei Franchisees shall defend, indemnify and hold harmless the City, its officers, agents, representatives and employees from and against all liability, claims, demands and expenses (including court costs and reasonable attorneys fees), on account of any injury, loss or damage, arising out of or in connection with construction, operation, maintenance, location, or removal of any transit stop shelter owned by franchisee. (Ord. 1318, 04- 11-2005) WITAUK61111ra1]*101 0111101WIOki The City shall provide franchisees with all available information (including the location of road right-of-way and utilities) which is relevant to the Transit Shelter Program together with the necessary guidance and direction to achieve the Program's objectives. In consideration of the City's use of the transit shelters at no cost, the City hereby assures access to and use of the nearest electrical power and waives all permit and use fees for each transit shelter covered by this Ordinance. Provided that each transit shelter complies fully with the provisions of this Ordinance and all applicable provisions of the City's Municipal Code, all necessary permits for the installation and/or maintenance of the transit shelters shall be granted by the City. The process for obtaining such permits shall be expedited by all city departments to assure that shelters are installed within one hundred eighty (180) days. 1207.20: RESERVED: if► ild"iWIV30[0100lBielI[el:alWR.110yW01:3 A franchisee shall not assign or transfer its rights, duties and obligations under the franchise, in whole or in part, without first obtaining the written consent of the City, provided, however, that the City's consent shall not be required with respect to any assignment by the franchisee to any person or entity that controls, is controlled by, or under common control with the franchisee or which merges with or into the franchisee or acquires substantially all of the assets of the franchisee. 1207.22: PERFORMANCE BOND OR OPTIONAL LETTER OF CREDIT: A franchisee shall post with the City a performance bond guaranteeing its performance of the obligations of the franchise, as created by this ordinance, and the ordinance granting the particular franchise. The amount of the bond shall be as specified in the Ordinance granting the particular franchise. The bond shall be issued by a company licensed to do business in Minnesota, and shall be in a form acceptable to the City Attorney. In lieu of the performance bond the franchisee may elect to give the City an irrevocable letter of credit in the bond amount issued by a bank in the metropolitan area. The letter of credit shall provide that it may be drawn upon under the same circumstance as a surety would be subject to a claim under its performance bond, except that the letter of credit shall be subject to a draw without any previous demand upon, or notice to the franchisee. The letter of credit shall also be subject to a draw if it is effective for a limited term and is not replaced by a replacement letter of credit at least thirty (30) days before expiration. The letter of credit shall also be in a form approved by the City attorney and shall be on file with the City Manager and remain so until three hundred sixty-five (365) days after the expiration or termination of the franchise. The City shall give the Franchisee seven O days' notice of its intent to draw on a letter of credit. 1207.23: REMOVAL OF SHELTER: Franchisees shall within thirty (30) days after receipt of written notice from the City remove any transit