Agmt21 Cingular_ATT Small Cell - Laserfiche WebLink

Browse Search

REV: 10-28-2021 SK 7.3.Insurer Criteria. All insurance policies obtained by Licensee must be issued by companies that are eligible to do business in the State of California and that have a minimum rating assigned by A.M. Best & Company’s Key Rating Guide of “A-” Overall and a Financial Size Category of “VII”. Insurance policies and certificates issued by non-admitted insurance companies are not acceptable. 7.4.Severability of Interest. “Severability of interest” or “separation of insureds” clauses shall be made a part of the Commercial General Liability and Commercial Automobile Liability policies. 7.5. Self-Insurance. Notwithstanding the forgoing, at the sole discretion of the City, Licensee may self-insure any of the required insurance under the same terms as required by this Agreement. If the City allows Licensee to fulfill the obligation of this Agreement to include the City as an additional insured through self-insurance, the following conditions apply: (i) within thirty (30) days after notice thereof, City shall use its best efforts to provide Licensee with written notice of any claim, damage, lawsuit, or the like for which it seeks coverage pursuant to this Section and provide Licensee with copies of any demands, notices, summonses, or legal papers receiving in connection with such claim, demand, lawsuit, or the like; (ii) the City shall not settle any such claim, demand, lawsuit, or the like without the prior written consent of Licensee; and (iii) the City shall fully cooperate with Licensee in the defense of the claim, demand, lawsuit, or the like. 8.PERFORMANCE BOND. In order to secure the performance of its obligations under this MLA, Licensee will provide the following security instrument to the City: 8.1.Performance Bond. Prior to the commencement of any work under this MLA, Licensee must provide a performance bond running to the City in the sum of: (i) for 1 to 25 SLAs, not less than Fifty Thousand Dollars ($50,000); (ii) for 26 to 50 SLAs, not less than Seventy-Five Thousand Dollars ($75,000); and 51 or more SLAs, not less than One Hundred Thousand Dollars ($100,000). If Licensee expands the number of SLAs during the term of this MLA, Licensee shall adjust its performance security in accordance with the scale identified above. The performance bond is conditioned upon the faithful performance by Licensee of all the terms and conditions of this MLA and upon the further condition that if Licensee fails to comply with any terms or conditions governing this MLA, there shall be recoverable jointly and severally from the principal and surety of the bond any damage or loss suffered by the City as a result, including the full amount of any compensation, indemnification, or costs of removal or abandonment of Licensee’s property, plus costs and reasonable attorneys’ fees up to the full amount of the performance bond. Licensee will keep the performance bond in place during the term of this MLA. 8.2.Assessment of the Bond. Upon Licensee’s failure to pay the City any amount owing under this MLA, the performance bond may be assessed by the City for purposes including, but not limited to: (a) Reimbursement of costs borne by the City to correct violations of the MLA not corrected by Licensee, after City provides notice and a reasonable opportunity to cure such violations; ATTY/AGR.2021.274/New CIngular Wireless/AT14 (Page 14 of 27)