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keep and maintain, in full force and effect, a policy or policies, of automobile liability
<br />insurance coverage which fully meets or exceeds coverage in the following amounts:
<br />for each accident, personal injury coverage in the amount of $50,000.00 per person
<br />and $100,000.00 aggregate, and property damage coverage in the amount of
<br />$50,000.00. The insurance policy shall also provide coverage for bodily injury to
<br />passengers and/or property damage and shall indemnify the City of Paris, its elected
<br />officials, officers and employees from and against any and all claims for damages,
<br />personal injuries, or property damages sustained as a result of the negligent
<br />operation of any motor vehicle by the Licensee, their agents or employees, and shall
<br />pay all premiums due thereon when due. Said policy shall also list the City of Paris,
<br />its elected officials, officers and employees as additional insured under the required
<br />coverage. It is expressly provided that such insurance policy, or policies, shall, and
<br />must, be written and issued by a reputable insurance underwriter, or underwriters,
<br />authorized to do business in the State of Texas, subject to approval by the City
<br />Attorney of the City of Paris; and the Licensee, or their insurance carrier or carriers,
<br />shall deliver a copy of any such policies to the City Clerk of the City of Paris, 150 1st
<br />Street S.E., Paris, Texas 75460, or furnish to said City Clerk a current letter or
<br />certificate from such company, or companies, evidencing the fact that such insurance
<br />is in full force and effect at all times during the effective period of this license. All such
<br />policies shall be written so that the City of Paris will be notified of cancellation or of
<br />any material change to the policies at least ten (10) days prior to the effective date of
<br />such cancellation or amendment. Notice shall be by certified mail, return receipt
<br />requested, addressed to the City of Paris c/o City Clerk, City of Paris, P. 0. Box 9037,
<br />Paris, Texas 75461-9037.
<br />"(10) The Licensee shall promptly respond to all claims filed against them for
<br />injury or damage to property arising from the operation of their taxicabs and/or
<br />shuttle vehicles; and well and truly pay directly to every judgment creditor who has
<br />been injured through the negligent operation of any motor vehicle by the Licensee,
<br />their agents or employees, or whose property has been damaged, any amount, or
<br />amounts, of money that shall have been awarded by final judgment of any court of
<br />competent jurisdiction against such Licensee on account of any such injury or
<br />damage.
<br />"(11) That in the event Licensee fails to provide the City with a current
<br />Certificate of Insurance with appropriate insurance coverage for all vehicles operated
<br />under this License and/or Licensee fails to fully discharge any claim for damages or
<br />injuries established by final judgment of a court of competent jurisdiction within sixty
<br />(60) days after the same has been so established, such failure shall constitute grounds
<br />for termination of this license.
<br />"(12) That every Vehicle for Hire operated by Licensee under this license shall,
<br />at all times, have painted, or otherwise impressed upon the front doors thereof, easily
<br />visible signs bearing proper identification of the company operating under this
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