Laserfiche WebLink
<br />DES:djk 09111/98 <br />F:SharedIRedwoodlCouncil/Agmt-199 <br /> <br />(c) Naming City, its Council, commissions, boards, committees, officers, employees and agents as <br /> <br />additional insureds; and <br /> <br />(d) Providing that Contractor's insurance shall be primary insurance relating to Contractor's work <br /> <br />hereunder with respect to City, its Council, commissions, boards, committees, officers, <br /> <br />employees and agents, and further providing that any insurance or self-insurance maintained by <br /> <br />City for itself, its Council, commissions, boards, committees, officers, employees and agents <br /> <br />shall not be excess of Contractor's insurance and shall not be contributory with it. Contractor <br /> <br />shall provide, upon the execution of this Agreement, a good and sufficient corporate surety bond <br /> <br />in the penal sum of one hundred percent ( I 00%) of amount bid, which bond shall be conditioned <br /> <br />upon the faithful performance of all work required to be performed by Contractor under this <br /> <br />Agreement. Said bond shall be liable for any and all penalties and obligations which may be <br /> <br />incurred by Contractor under this Agreement. Acceptance of the bond by the City is subject to <br /> <br />the review and approval of the bond by the City Attorney's office. <br /> <br />13. In addition to the bond required under Paragraph 12 hereof, Contractor shall furnish a good and <br /> <br />sufficient corporate surety bond in the penal sum of one hundred percent (100%) of amount of bid, <br /> <br />which bond shall conform strictly with the provisions of Chapter 7, Title 15, Part 4, Division 3, of <br /> <br />the Civil Code of the State of California, and all amendments thereto. Acceptance of the bond by <br /> <br />the City is subject to the review and approval of the bond by the City Attorney's office. <br /> <br />14. Pursuant to California Public Contract Code Section 7100, the acceptance by Contractor of an <br /> <br />undisputed payment made under the terms of the Contract shall operate as, and shall be, a release <br /> <br />to City, and their duly authorized agents, from all claim of and/or liability to Contractor arising by <br /> <br />virtue of the Contract related to those amounts. Disputed contract claims in stated amounts may <br /> <br />be specifically excluded by Contractor from the operation of the release. <br /> <br />13 <br /> <br />r <br />