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DAS:sh 5/29/86 <br /> <br /> (d) An endorsement stating that the insurance afforded <br /> thereby to City, its Council, its officers, agents and <br /> employees shall be primary insurance to the full limits of <br /> its liability of the policy, and that if City or its <br /> officers and employees have other insurance against a loss <br /> covered by such policy, such other insurance shall be in <br /> excess insurance only. <br /> <br /> In the event of the breach of any provision of this <br />paragraph, or in the event of any notices received which <br />indicates any required insurance coverage will be diminished or <br />cancelled, City at its option, may, notwithstanding any other <br />provisions of this Agreement to the contrary, immediately declare <br />a material breach of this agreement and suspend all further work <br />pursuant to this agreement. <br /> <br /> 9. The Contractor shall provide, on the execution of this <br />agreement, a good and sufficient corporate surety bond in the <br />penal sum of one hundred percent (100%) of amount bid, which bond <br />shall be conditioned upon the faithful performance of all work <br />required to be performed by the Contractor under this Agreement. <br />Said bond shall be liable for any and all penalties and <br />obligations which may be incurred by Contractor under this <br />Agreement. <br /> <br /> 10. In addition to the bond required under Paragraph 9, <br />hereof, Contractor shall furnish a good and sufficient corporate <br />surety bond in the penal sum of one hundred percent (100%) of <br />amount of bid, which bond shall conform strictly with the <br />provisions of Chapter 7, Title 15, Part 4, Division 3, of the <br /> <br /> 7 <br /> <br /> <br />