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A franchisee shall keep books of accounts and records of all transactions and costs incurred in connection with the purchase, manufacture and installation of the shelters and advertising on shelters, showing all financial transactions including receipts and disbursements and the particulars thereof in a form satisfactory to the City of Roseville Finance Director. Such books and records shall be available to the City for inspection any time during normal Jusiness hours upon forty-eight (48) hours prior written notice thereof to the franchisee. All such books and records shall be retained by the franchisee for a minimum of five (5) years. Franchisees shall file annually with the City no later than one hundred twenty (120) days after the end ofthe franchisee's fiscal year, a copy of a financial report applicable to the Roseville Transit Shelter System, including an income statement relating to its operations during the fiscal year and a balance sheet, both of which shall be certified as correct by an independent certified public accountant, and a statement of its properties, equipment and facilities which are located upon the streets, highways and public places within the City giving its investment in such facilities on the basis of original cost, less applicable depreciation. These reports shall be certified as correct by an authorized officer ofthe franchisee and shall be submitted along with such other reasonable information as the City shall request with respect to the franchisee's facilities and expenses related to its transit stop shelter system operations within the City. Franchisees shall also file with the City Manager copies of their articles of incorporation, bylaws, agreements with any other person relating to the ownership of the transit stop shelter system, and amendments of such documents as they become effective. 1207.17: INSURANCE AND SECURITY: Franchisees shall procure and maintain at their own cost the following insurance coverage: a) Workers compensation insurance in accordance with the Minnesota Workmen's Compensation Act. b) Commercial general liability insurance with minimum limits of $150,000 per person and $1,000,000 per occurrence. c) Comprehensive automobile liability insurance with minimum limits for bodily injury and property damage of$150,000 per person and $1,000,000 per occurrence. The foregoing insurance coverage shall be procured and maintained with insurers that are reasonably acceptable to the City. The liability insurance policies shall be endorsed to include the City as an additional insured. If the above limits are less than those specified in Minn. Stat. Ch. 466 as the liability limits of a municipality, the higher limits shall apply. The policy shall be of type in which coverage is restored inunediately after the occurrence of any loss or accident from which liability may thereafter accrue. The policy shall contain an endorsement which shall 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. 1207.18: INDEMNIFICATION: 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 the presence of transit shelters as allowed by this Ordinance, or arising out of or in connection with the performance by the franchisee of its services pursuant to the franchise. 207.19: CITY RESPONSIBILITIES: The City shall provide franchisees with all available information (including the location of road right-of-way and