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for any and all damages and penalties which may arise as a result of this Franchise. The policy or policies shall name the City as an additional insured, and in their capacity as such, City officers. elected oftïcials. boards, commissions, agents and employees. b. The policies of insurance shall be in the sum of not less than $1.000.000.00 for personal injury or death of anyone Person, and $2.000,000.00 for personal injury or death of two or more Persons in anyone occurrence. $500,000.00 for property damage to anyone person and $2,000,000.00 for property damage resulting from anyone act or occurrence. c. The policy or policies of insurance shall be maintained by Grantee in full force and effect during the entire term of the Franchise. Each policy of insurance shall contain a statement on its face that the insurer will not cancel the policy or fail to renew the policy, whether for nonpayment of premium, or otherwise, and whether at the request of Grantee or for other reasons, except after sixty (60) days advance written notice have been provided to City. SECTION 10. SALE, ABANDONMENT, TRANSFER AND REVOCATION OF FRANCHISE 1. City's Right to Revoke. a. In addition to all other rights which City has pursuant to law or equity, City reserves the right to commence proceedings to revoke, terminate or cancel this Franchise, and all rights and privileges pertaining thereto, if it is determined by City that: I. Grantee has violated material provisions(s) of this Franchise; or 11. Grantee has attempted to evade any of the provisions of the Franchise; or 111. Grantee has practiced fraud or deceit upon City. City may revoke this Franchise without the hearing required by 9.2(b) herein if Grantee is adjudged a bankrupt. 2. Procedures for Revocation. a. City shall provide Grantee with written notice of a cause for revocation and the intent to revoke and shall allow Grantee thirty (30) days subsequent to receipt of the notice in which to correct the violation or to provide adequate 26