§ 9. Protection from Liability.

Before starting construction, the company shall indemnify, protect and save harmless the city from and against losses and physical damages to property, and bodily injury or death to persons, including payments made under any workmen's compensation law, which may arise out of, or be caused by the erection, maintenance, presence, use or removal of said attachments on poles within the city, or by any act of the company, its agents or employees. The company shall carry insurance to protect the parties hereto, subscribers and the public from and against all claims, demands, actions, judgments, costs, expenses and liabilities which may arise or result, directly or indirectly, from or by reason of such loss, injury or damage. The amounts of such insurance against liability due to physical damage to property shall be not less than five hundred thousand dollars ($500,000.00) to any one accident and not less than one million dollars ($1,000,000.00) aggregate in any single policy year; and against liability due to bodily injury or death of persons not less than five hundred thousand dollars ($500,000.00) as to any one person and not less than one million dollars ($1,000,000.00) as to any one accident. All insurance thus required shall be and remain in full force and effect for the entire life of this ordinance. The policy or policies of insurance, or a certificate thereof, shall be deposited with and kept on file by the city clerk-treasurer.

The company shall post a performance bond in the amount of twenty thousand dollars ($20,000.00); said performance bond payable to the city to guarantee the faithful performance by the company of the terms of this contract and to further guarantee the completion by the company of the construction required under the terms of this contract. The company shall, however, at its option, have the right to post a cash bond or deposit payable to the city in lieu of a performance bond with a reputable bonding or insurance company.