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<br />Any deductibles or self-insured retentions must be declared to, and <br />approved by City. At the option of City either Contractor's insurer shall <br />reduce or eliminate the deductibles or self-insured retentions with respect to <br />City, its Council, commissions, boards, committees, officers, employees and <br />agents or Contractor shall procure a bond guaranteeing payment of losses <br />and related investigations, claim administration and defense expenses. <br /> <br />Concurrently with the execution of this Agreement, Contractor shall furnish <br />City with certificates and copies of information or declaration pages of the <br />insurance required hereunder and, with respect to evidence of commercial <br />general liability and automobile liability insurance coverage, original <br />endorsements: <br /> <br />a) Precluding cancellation or reduction in coverage before the expiration <br />of thirty (30) days after City shall have received written notification of <br />cancellation or reduction in coverage by first class mail, postage <br />prepaid; <br /> <br />b) Providing that Contractors insurance shall apply separately to each <br />insured against whom claim is made or suit is brought, except with <br />respect to the limits of the insurer's liability (cross liability <br />endorsements ); <br /> <br />c) Naming City, its Council, commissions, boards, committees, officers, <br />employees and agents as additional insureds; and <br /> <br />d) Providing that Contractors insurance shall be primary insurance <br />relating to Contractors work hereunder with respect to City, its Council, <br />commissions, boards, committees, officers, employees and Agents, <br />and further providing that any insurance or self-insurance maintained <br />by City for itself, its Council, commissions, boards, committees, <br />officers, employees and agents shall not be excess of Contractors <br />insurance and shall not be contributory with it. <br /> <br />9. Contractor shall provide, on the execution of this Agreement, a good and <br />sufficient corporate surety bond in the penal sum of one hundred percent <br />(100%) of amount bid, which bond shall be conditioned upon the faithful <br />performance of all work required to be performed by Contractor under this <br />Agreement. Said bond shall be liable for any and all penalties and <br />obligations which may be incurred by Contractor under this Agreement. <br />Acceptance of the bond by the City is subject to the review and approval of <br />the bond by the City Attorney's office. <br /> <br />10.ln addition to the bond required under Paragraph 9 hereof, Contractor shall <br />furnish a good and sufficient corporate surety bond in the penal sum of one <br />hundred percent (100%) of amount of bid, which bond shall conform strictly <br />with the provisions of Chapter 7, Title 15, Part 4, Division 3, of the Civil <br />Code of the State of California, and all amendments thereto. Acceptance of <br /> <br />F:Atty/Agr/AgLO09 <br />011702 <br /> <br />7 <br />