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Any deductibles or self-insured retentions must be declared to, and approved by City. At
<br /> the option of City either Contractor's insurer shall reduce or eliminate the deductibles or
<br /> self-insured retentions with respect to City, its Council, commissions, boards, committees,
<br /> officers, employees and agents or Contractor shall procure a bond guaranteeing
<br /> payment of losses and related investigations, claim administration and defense
<br /> expenses.
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<br /> Concurrently with the execution of this Agreement, Contractor shall furnish City with
<br /> certificates and copies of information or declaration pages of the insurance required
<br /> hereunder and, with respect to evidence of commercial general liability and automobile
<br /> liability insurance coverage, odginal endorsements:
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<br /> a) Precluding cancellation or reduction in coverage before the expiration of thirty (30)
<br /> days after City shall have received wdtten notification of cancellation or reduction in
<br /> coverage by certified mail, return receipt requested;
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<br /> b) Providing that Contractor's insurance shall apply separately to each insured against
<br /> whom claim is made or suit is brought, except with respect to the limits of the
<br /> insurer's liability (cross liability endorsements);
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<br /> c) Naming City, its Council, commissions, boards, committees, officers, employees
<br /> and agents as additional insureds; and
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<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, boards,
<br /> committees, officers, employees and Agents, and further providing that any
<br /> insurance or self-insurance maintained by City for itself, its Council, commissions,
<br /> boards, committees, officers, employees and agents shall not be excess of
<br /> 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 bid,
<br /> which bond shall be conditioned upon the faithful performance of all work required to be
<br /> performed by Contractor under this Agreement. Said bond shall be liable for any and all
<br /> penalties and obligations which may be incurred by Contractor under this Agreement.
<br /> Acceptance of the bond by the City is subject to the review and approval of the bond by
<br /> the City Attorney's office.
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<br /> 10. In addition to the bond required under Paragraph 9 hereof, Contractor shall furnish a
<br /> good and sufficient corporate surety bond in the penal sum of one hundred percent
<br /> (100%) of amount of bid, which bond shall conform strictly with the provisions of Chapter
<br /> 7, Title 15, Part 4, Division 3, of the Civil Code of the State of California, and all
<br /> amendments thereto. Acceptance of the bond by the City is subject to the review and
<br /> approval of the bond by the City Attorney's office.
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<br /> 11. Pursuant to California Public Contract Code Section 7100, the acceptance by Contractor
<br /> of an undisputed payment made under the terms of the Contract shall operate as, and
<br /> shall be, a release to City, and their duly authorized agents, from all claim of and/or
<br /> liability to Contractor arising by virtue of the Contract related to those amounts. Disputed
<br /> contract claims in stated amounts may be specifically excluded by Contractor from the
<br /> operation of the release.
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<br />Agmt-381 6
<br />F: Sh/sh/Redwood/Council
<br />DES:rg
<br />07/12/01
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