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insurance states the umbrella or excess liability provides coverage on <br /> a "follow-form" basis. <br /> v. Self-insurance. Registrant may satisfy the insurance requirements and <br /> conditions of this division under a self-insurance plan and/or retention <br /> if acceptable to the City in its sole discretion based on the City's <br /> evaluation of the registrant's ability to comply with the City Code. <br /> Registrant agrees to notify the City, and/or indicate on the <br /> certificate(s) of insurance when self-insurance is relied upon or when <br /> a self-insured retention meets or exceeds $100.000. The City reserves <br /> the right, but not the obligation. to request and review a copy of the <br /> registrant's most recent annual report or audited financial statement. <br /> which the registrant agrees to furnish for the purpose of determining <br /> the registrant's financial capacity to self-insure. <br /> (3) Right to review. City. by and through its risk manager. reserves the right to <br /> review, reject or accept any required policies of insurance or self-insurance. <br /> including limits, coverages, or endorsements herein from time to time <br /> throughout the life of this division. City reserves the right, but not the <br /> obligation, to review and reject any insurer or self-insurer providing coverage <br /> because of its poor financial condition or failure to operate legally. <br /> (4) This Ordinance shall not be construed to affect in any way the City's rights, <br /> privileges and immunities as set forth in F.S. 768.28. Insurance under this <br /> division shall run continuously with the presence of the registrant's facilities <br /> in the public rights-of-way, and any termination or lapse of such insurance <br /> shall be a violation of this Ordinance. Notwithstanding the foregoing. the <br /> City may. in its sole discretion, require increased or decreased levels of <br /> insurance. <br /> (d) Permanent Performance Bond to Guarantee Compliance. For an effective <br /> registration. a registrant shall file with the City. for City approval, a permanent <br /> performance bond in the amount of twenty-five thousand dollars ($25.000). in the <br /> form of a cash deposit or irrevocable letter of credit. Any cash deposit shall be held <br /> in a City account and used only for the purposes contained in this Ordinance. The <br /> letter of credit shall be issued by a financial institution so that it may be presented <br /> within Miami-Dade County and shall be in a form and issued by a financial <br /> institution acceptable to the City Attorney. The permanent performance bond shall <br /> be conditioned on the full and faithful performance by the registrant of all <br /> requirements. duties and obligations imposed upon the registrant by the provisions of <br /> this Ordinance. including but not limited to requirements to restore the public rights- <br /> of-way and guarantee such restoration. remove any abandoned communications <br /> facilities, pay appropriate compensation to the City, and pay for any damage to City <br /> or other facilities in the public rights-of-way. The permanent performance bond is <br /> not a fee or tax for access to the public rights-of-way. Should the City draw upon the <br /> permanent performance bond. the City shall promptly notify the registrant. and the <br /> registrant shall promptly restore the cash deposit and/or letter of credit. as may be <br /> 33 <br /> City of Sunny Isles Beach CROW Ordinance 10-17-18 <br />