AgdaPkt 2018-03-26 Joint SA PFA - Laserfiche WebLink

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REV: 03-16-18 MI ATTY/AGR/2018.054/RECOLOGY OF SAN MATEO Page 103 of 119 13.02.A(3) shall cover all Subcontractors or the Subcontractor must furnish 4185 evidence of insurance provided by it meeting all of the requirements of this 4186 Section 13.02. 4187 2. Contractor shall comply with all requirements of the insurers issuing policies. 4188 The carrying of insurance shall not relieve Contractor from any obligation under 4189 this Agreement, including those imposed by Section 13.01. If any claim is made 4190 by any third Person against Contractor or any Subcontractor on account of any 4191 occurrence related to this Agreement, other than claims by employees for work-4192 related incidents, Contractor shall promptly report the facts in writing to the 4193 insurance carrier and to the Agency. 4194 3. If Contractor fails to procure and maintain any insurance required by this 4195 Agreement, Agency may take out and maintain such insurance as it may deem 4196 proper and may require Contractor to reimburse it for the cost incurred within 4197 thirty (30) Days and/or deduct the cost from any monies due Contractor. Agency 4198 may also treat the failure as a Contractor default. 4199 4. Agency is not responsible for payment of premiums for or deductibles under any 4200 required insurance coverages. 4201 5. Any excess or umbrella policies shall be written on a “following form” basis. 4202 13.03 FAITHFUL PERFORMANCE BOND 4203 Pursuant to the 2009 Franchise Agreement, Contractor shall have a faithful performance 4204 bond in effect until December 31, 2020. On or before the Commencement Date, 4205 Contractor shall file with Agency a bond securing the Contractor’s faithful performance of 4206 its obligations under this Agreement. The principal sum of the bond shall be no less than 4207 ten percent (10%) of the amount of the Rate Year Ten (2020) annual Revenue 4208 Requirement for Agency shown on Attachment N. The form of the bond shall be as set 4209 out in Attachment F. The bond shall be executed as surety by a corporation admitted to 4210 issue surety bonds in the State of California, regulated by the California Insurance 4211 Commissioner, and with a financial condition and record of service satisfactory to Agency. 4212 The term of the bond shall be twenty-four (24) months. The bond shall be extended, or 4213 replaced by a new bond in the same principal sum (adjusted by the Annual Index Change 4214 in the CPI-U, which are defined in Attachment K), for the same term (i.e., twenty-four (24) 4215 months) and in the same form, bi-annually thereafter. Not less than ninety (90) Days 4216 before the expiration of the initial, or any subsequent, bond, Contractor shall furnish either 4217 a replacement bond or a continuation certificate substantially in the form attached as 4218 Attachment F, executed by the surety. 4219 It is the intention of this Section that there be in full force and effect at all times a bond 4220 securing the Contractor’s faithful performance of the Agreement, throughout its Term. 4221 For the purposes of this Section, the Consumer Price Index shall be “CPI-U” means the 4222 All Urban Consumers Index (CPI-U) compiled and published by the U.S. Department of 4223 Labor, Bureau of Labor Statistics or its successor agency, using the following parameters. 4224 CPI-U Parameters: 4225 Area – San Francisco-Oakland-San Jose Metropolitan Area 4226 Item – All Items 4227 Base Period – Current 1982-84=100 4228 6.2.B. - Page 116