Prior to the execution of a Franchise, a Provider will deposit with the City an irrevocable, unconditional letter of credit or surety bond as required by the terms of the Franchise and Section 5.05.130, and shall obtain and provide proof of the insurance coverage required by the Franchise and Section 5.05.130. A Provider shall also indemnify the City as set forth in the Franchise and Section 5.05.150.