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<br />Any deductibles or ;:,elf-insured retentions must be declareu to, and approved by
<br />City. At the option of City either Contractor's insurer shall reduce or eliminate the
<br />deductibles or self-insured retentions with respect to City, its Council,
<br />commissions, boards, committees, officers, employees and agents or Contractor
<br />shall procure a bond guaranteeing payment of losses and related investigations,
<br />claim administration and defense expenses.
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<br />Concurrently with the execution of this Agreement, Contractor shall furnish City
<br />with certificates and copies of information or declaration pages of the insurance
<br />required hereunder and, with respect to evidence of commercial general liability
<br />and automobile liability insurance coverage, original endorsements:
<br />
<br />a) Precluding cancellation or reduction in coverage before the expiration of thirty
<br />(30) days after City shall have received written notification of cancellation or
<br />reduction in coverage by certified mail, return receipt requested;
<br />
<br />b) Providing that Contractor's insurance shall apply separately to each insured
<br />against whom claim is made or suit is brought, except with respect to the
<br />limits of the insurer's liability (cross liability 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 Contractor's insurance shall be primary insurance relating to
<br />Contractor's work hereunder with respect to City, its Council, commissions,
<br />boards, committees, officers, employees and Agents, and further providing
<br />that any insurance or self-insurance maintained by City for itself, its Council,
<br />commissions, boards, committees, officers, employees and agents shall not
<br />be excess of Contractor's insurance and shall not be contributory with it.
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<br />9. Contractor shall provide, on the execution of this Agreement, a good and sufficient
<br />corporate surety bond in the penal sum of one hundred percent (100%) of amount
<br />bid, which bond shall be conditioned upon the faithful performance of all work
<br />required to be performed by Contractor under this Agreement. Said bond shall be
<br />liable for any and all penalties and obligations which may be incurred by Contractor
<br />under this Agreement. Acceptance of the bond by the City is subject to the review
<br />and approval of the bond by the City Attorney's office.
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<br />10. In addition to the bond required under Paragraph 9 hereof, Contractor shall furnish
<br />a good and sufficient corporate surety bond in the penal sum of one hundred
<br />percent (100%) of amount of bid, which bond shall conform strictly with the
<br />provisions of Chapter 7, Title 15, Part 4, Division 3, of the Civil Code of the State of
<br />California, and all amendments thereto. Acceptance of the bond by the City is
<br />subject to the review and approval of the bond by the City Attorney's office.
<br />
<br />11. Pursuant to California Public Contract Code Section 710O, the acceptance by
<br />Contractor of an undisputed payment made under the terms of the Contract shall
<br />operate as, and shall be, a release to City, and their duly authorized agents, from
<br />all claim of and/or liability to Contractor arising by virtue of the Contract related to
<br />those amounts. Disputed contract claims in stated amounts may be specifically
<br />excluded by Contractor from the operation of the release.
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<br />Agmt-397
<br />FXS:djk
<br />F: S haT edIR ed w ood! C 0 unci 1
<br />08/29/00
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