Laserfiche WebLink
<br />86 (12 ) <br /> <br />property and the operations of the grantee within the city. <br /> <br /> <br />~~' Subsection{b). No payment shall be made, at the exercise of this option, by <br /> <br />reason of the value of the franchise itself. <br /> <br /> <br />Subeection{c). It shall be understood that each contract entered into by the <br /> <br /> <br />grantee with reference to operations under this franchise, and which may extend <br /> <br /> <br />until the expiration of this franchise, shall be subject to the exercise of this <br /> <br /> <br />option by the city and the city may be substituted for the grantee as a party to <br /> <br /> <br />any such contract and may succeed, at its option, to all the privileges and the <br />",-. <br /> <br />obligations thereof. <br /> <br />SECTION 11. PAYliIENT TO HUNICIPALTIY. <br /> <br /> <br />As compensation for the privilege granted hereunder to the grantee for the use <br /> <br />of the streets of the city, the grantee shall pay to the city each year in lieu of <br /> <br />any other permit charge, but in addition to the other obligations imposed under <br /> <br />this franchise, an amount equal to TvTo Thousand Dollars (~)2,OOO) in each of the <br /> <br />first ten years of this franchise, Three Thousand Dollars (~~3, 0(0) in each of the <br /> <br />eleventh to twentieth years (both inclusive) of this franchise, and Four Thousand <br /> <br />Dollars W4,000) in each of the twenty-first to the thirtieth years (both inclusive) <br /> <br />of this franchise. <br /> <br />,- <br /> <br />SECTION 12. SAFETY HETHODS AND EQUIPl.1ENT. <br /> <br /> <br />The grantee shall a.t all times employ a high standard of care and shall install <br /> <br /> <br />and maintain in use approved methods and devices for preventing fires, explosions, <br /> <br /> <br />and other failures or accidents \lhich are likely to cause damages, injuries or <br /> <br /> <br />nuisances. <br /> <br />- 12 - <br />