Agmt15 William Euphrat Municipal Finance, Inc.

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satisfaction, a deciaration stating this. Such declaration is attached hereto as Exhibit "C". 11.1.5 Professional Liabilitv Insurance. Consultant shall maintain coverage with limits not less than $1,000,000 per occurrence. Professional Liability may be written as claims-made coverage. 11.2. Notice of Cancellation. This insurance will be in force during the life of the Agreement and any extensions of it and will not be canceled without Consultant providing thirty (30) days prior written notice to City sent pursuant to the Notice provisions of this Agreement. 11.3 ProWidinq Certificates of Insurance and Endorsements. Prior to City's executian of this Agreement, Cansultant shail provide to City certificates of insurance and above-referenced endorsements sufficient to satisfaction of City's Risk Manager. In no event shall Consultant commence any work or provide any Services under this Agreement until certificates of insurance and endorsements have been accepted by City's Risk Manager. 11.4 Failure to Maintain Coverage. If Consultant fails to comply with these insurance requirements, then City will have the option to declare Consultant in breach, or may purchase replacement insurance or pay the premiums that are due on existing policies in order to maintain the required coverages. Consultant is responsible for any payments made by City to obtain or maintain insurance and City may collect these payments from Consultant or deduct the amount paid from any sums due Consultant under this Agreement. 11.5 Submission of Insurance Policies. City reserves the right to require, at any tim�, complete copies of any or all required insurance policies and endorsements. 1�. Business License. Consultant will obtain and maintain a City of Redwood City Business License far the term of the Agreement, as may be amended from time-to-time. 13. Maintenance of Records. Consultant will maintain complete and accurate records with respect to costs incurred under this Agreement. All records will be clearly identifiable. Consultant will aJlow a representative of City during normal business hours to examine, audit, and make transcripts or copies of records and any other documents created pursuant to this Agreement. Consultant will allow inspection of all work, data, documents, proceedings, and activities related to the Agreement for a period of three (3) years from the date of final payment under this Agreement. 14. 4wnership of Documents. All work product produced by Consultant or its agents, empioyees, and subcontractors pursuant to this Agreement is the praperty of City. In the event this Agreement is terminated, all work product produced by Consultant or its agents, employees and subcontractors pursuant to this Agreement will be REV:03-10-15 MLG Page 5 of 14 ATTY/AGR.2015.047/William Euphrat Municipal Finance, Inc.