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maintenance. <br />• SECTION 3. Within thirty (30) days after completion of <br />any work, the Company shall replace, repair or restore in <br />accordance with City standard specifications any sidewalks, <br />streets and City rights-of-way which are damaged or displaced <br />by the Company in the construction and maintenance of its <br />system. Upon failure of the Company to do so, the City may <br />repair or replace such portion of the sidewalk, street or <br />right-of-way that may have been disturbed by the Company, and <br />collect the cost so incurred from the Company. The Company <br />shall post an irrevocable letter of credit with the City in <br />the amount of $5,000 to guarantee the timeliness and <br />quality of such repair and restoration work, and to guarantee <br />• the removal of its lines from the City right-of-way should <br />such be required upon expiration of the franchise term. In <br />the event additional lines, cables or wires are installed, <br />and existing facilities and conduits are not used, the <br />Company shall increase the irrevocable letter of credit with <br />the City to the amount of $20,000. <br />SECTION 4. Upon notice from the Director of Public <br />Works of a proposed improvement or alteration of City <br />sidewalks, streets or other property, or of a proposed <br />relocation of any City -owned utilities, the Company shall <br />relocate at its own expense any underground or overhead <br />lines, within sixty (60) days of receipt of the notice. <br />SECTION 5. The Company agrees and binds itself to <br />• <br />indemnify, <br />keep and <br />hold <br />the City <br />free and <br />harmless <br />from <br />liability <br />on account <br />of <br />injury or <br />damage to <br />persons, <br />firms or <br />-3- <br />