The City shall in no way be liable or responsible for any accident or damage that may occur in the construction, operation or maintenance by the Grantee of its lines and appurtenances hereunder, and the acceptance of this franchise shall be deemed an agreement on the part of the Grantee, its successors and assigns, to indemnify the City and hold it harmless against any and all liability, loss, cost, damage, or expense which may accrue to the City by reason of the neglect, default or misconduct of the Grantee in the construction, operation, or maintenance of its lines and appurtenances hereunder.