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(5) Arising out of the Company's or the City's alleged <br />• failure to comply with federal or state antitrust laws or any <br />conduct by the Company or the City alleged to constitute an <br />unlawful restraint of trade. <br />B. The foregoing indemnity is conditioned upon the <br />following: The City shall give prompt notice of the receipt of <br />any claim or the commencement of any action, suit or other <br />proceeding covered by the provisions of this section. In the <br />event that suit shall be brought against the City either <br />independently or jointly with the Company upon a claim which is <br />subject to indemnification, the Company may assume the defense <br />thereof. If the Company fails to do so, the City may proceed with <br />its own defense, subject to indemnification. <br />Section 1-10. Liability Insurance. <br />A. Throughout the term of this franchise and during any <br />period following its expiration in which the Company's system <br />continues to occupy public property, the Company shall maintain <br />in force a liability insurance policy or policies covering all <br />claims described in Section 1-9 of this ordinance in the amount <br />of at least $2,000,000 single limit coverage. <br />B. The policy or policies obtained by the Company in <br />compliance with this section shall list the City as an additional <br />• insured. Certification of such coverage shall be delivered with <br />the Company's acceptance of the franchise, and thereafter upon <br />any renewal of or change in coverage. Within a reasonable time <br />after institution of coverage, the Company shall also furnish <br />the City Attorney with a copy of the actual policy or policies to <br />be reviewed for compliance with the requirements of this section. <br />C. All insurance policies maintained pursuant to this <br />section shall contain the following endorsement: <br />"It is hereby understood and agreed that this <br />insurance policy may not be cancelled by the <br />surety, nor may the intention not to renew be <br />stated by the surety until thirty days after <br />receipt by the City, by registered mail, of a <br />written notice of such intention to cancel or <br />not to renew.• <br />In addition, it shall be the obligation of the Company <br />promptly to notify the City of any pending or threatened <br />litigation that would be likely to affect its insurance coverage. <br />D. Neither the provisions of this sectic„ nor any amounts <br />recovered by the City thereunder, shall be construed to limit the <br />liability of the Company for damages. <br />-7- <br />