§ A210-55. Insurance policy.

A. 

The grantee shall obtain, effective from the date of execution of this franchise, and shall keep in force and effect during the entire term of this agreement a policy of comprehensive general liability insurance as shall be approved by the Borough Solicitor and the Borough Manager. Such policy of insurance shall name the Borough, its officers, employees and agents as additional insureds and shall protect the Borough and all persons against liability for loss or damage for personal injury, death and property damage with respect to the construction, maintenance or operation of the grantee's system under this franchise and shall evidence minimum liability limits as follows: combined single limit for bodily injury and property damage of $3,000,000 for each occurrence and $3,000,000 aggregate.

B. 

No policy of insurance required under this franchise shall be replaced, renewed, canceled or materially changed or altered in any way, except upon 30 days' written notice to the Borough of Tyrone prior to the date said material alteration or cancellation shall become effective. All required insurance premiums shall be at the expense of the grantee. A certificate of insurance of all policies of insurance required by the franchise and all renewals thereof and written evidence of payment of required premiums shall be filed with the Borough Manager within 10 days of the granting of the franchise and maintained during the life and term of this franchise.