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Insurance Cate~,orv Minimum Limits <br /> Workers' Compensation Statutory minimum. <br /> <br /> Employer's Liability $1,000,000.00 per accident for <br /> bodily injury or disease. <br /> <br /> Commercial General Liability $1,000,000.00 per occurrence for <br /> bodily injury, personal injury and property damage. <br /> <br /> Automobile Liability $1,000,000.00 per accident for <br /> bodily injury and property damage (coverage required to the extent applicable to <br /> Contractor's vehicle usage in performing work hereunder). <br /> <br /> Any deductibles or self-insured retentions must be declared to, and approved by City. At the <br /> option of City either Contractor's insurer shall reduce or eliminate the deductibles or self-insured <br /> retentions with respect to City, its Council, commissions, boards, committees, officers, <br /> employees and agents or Contractor shall procure a bond guaranteeing payment of losses and <br /> related investigations, claim administration and defense expenses. <br /> <br /> Concurrently with the execution of this Agreement, Contractor shall furnish City with certificates <br /> and copies of information or declaration pages of the insurance required hereunder and, with <br /> respect to evidence of commercial general liability and automobile liability insurance coverage, <br /> original endorsement. <br /> <br /> (a) Precluding cancellation or reduction in coverage before the expiration of thirty (30 } <br /> days after City shall have received written notification of cancellation or reduction in coverage by <br /> certified mail, return receipt requested; <br /> <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 insurer's liability <br /> (cross liability endorsements); <br /> <br /> (c) Naming City, its Council, commissions, boards, committees, officers, employees and <br /> 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, boards, <br /> committees, officers, employees and Agents, and further providing that any insurance or self- <br /> insurance maintained by City for itself, its Council, commissions, boards, committees, officers, <br /> employees and agents shall not be excess of Contractor's insurance and shall not be contributory <br /> with it. <br /> <br />9. Contractor shall provide, on the execution of this Agreement, a good and sufficient corporate <br /> surety bond in the penal sum of one hundred percent (100%) of amount bid, which bond shall be <br /> conditioned upon the faithful performance of all work required to be performed by Contractor <br /> under this Agreement. Said bond shall be liable for any and all penalties and obligations which <br /> may be incurred by Contractor under this Agreement. 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 />10. In addition to the bond required under Paragraph 9 hereof, Contractor shall furnish a good and <br /> sufficient corporate surety bond in the penal sum of one hundred percent (100% } of amount of <br /> <br /> <br />