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RESOLUTION NO. 5-82 <br /> A RESOLUTION ACCEPTING AND PLACING ON FILE A SURETY BOND FROM <br /> THE TRAVELERS INDEMNITY COMPANY, HARTFORD, CONNECTICUT, IN THE <br /> AMOUNT OF $200,000.00, FILED WITH THE VILLAGE OF ELK GROVE <br /> VILLAGE TO FULFILL AND PERFORM EACH TERM AND CONDITION OF THE <br /> VILLAGE OF ELK GROVE VILLAGE ENABLING ORDINANCE NO. 1448 AND <br /> THE FRANCHISE AGREEMENT ENTERED INTO ON JULY 28, 1981 (CABLE TV) <br /> NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees <br /> of the Village of Elk Grove Village, Counties of Cook and DuPage, State <br /> of Illinois: <br /> Section 1 . That the Village President and Board of Trustees do <br /> hereby authorize the acceptance and placing on file a Surety Bond <br /> from The Travelers Indemnity Company, Hartford, Connecticut, Bond <br /> No. 431Fi43-0. <br /> Warner Amex Cable Communications Company of Northwest Suburbs shall <br /> well and truly observe, fulfill , and perform each term and condition <br /> of the Village of Elk Grove Village Enabling Ordinance No. 1448 and <br /> the Franchise Agreement entered into July 28, 1981 with the Village <br /> of Elk Grove Village, and shall include all damages and costs, whether <br /> direct or indirect, resulting from the failure of Warner Amex Cable <br /> Communications Company of Northwest Suburbs to well and faithfully <br /> observe and perform any provision of this ordinance or its franchise. <br /> Such damages and costs shall be deemed to include, as a minimum and <br /> without limitation, the loss of expected payments of the franchise <br /> fee and other valuable consideration given for the grant of the <br /> franchise, and such additional expenses as may be incurred by the <br /> Village as a result of Warner Amex Cable Communications Company of <br /> Northwest Suburbs' failure to comply with the obligations imposed by <br /> this ordinance and the franchise including, but not limited to, <br /> attorney' s fees and costs in any action or proceeding, the cost of <br /> refranchising, and the cost of removal or abandonment of any property, <br /> or other costs which may be in default. <br /> The Bond shall take effect as of July 30, 1981 . <br /> Section 2. That this Resolution shall be in full force and effect <br /> from and after its passage and approval according to law. <br /> PASSED this 26th day of January 1982. <br /> APPROVED this 26th day of January 1982, <br /> Charles J. Zettek <br /> ATTEST: Village President <br /> Aqf7lnVVillage Clerk <br />