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effectuate such correction and recover the cost thereof from Contractor or <br /> his sureties. <br /> Any and all other special guarantees which may be appiicable to definite <br /> � parts of the work under this Agreement shall be considered as an <br /> additional guarantee and shall not reduce or limit the guarantee as <br /> provided by Contractor pursuant to this paragraph during the first year of <br /> the life of such guarantee. <br /> 7. Business License. Contractor will obtain and maintain a City of Redwood <br /> City Business License for the term of the Agreement, as may be amended <br /> from time-to-time. <br /> 8. Insurance and Indemnification. Contractor, at its sole cost and expense, <br /> shall acquire and maintain in full force and effect throughout the term of <br /> this Agreement Workers' Compensation, employer's liability, commercial <br /> general liability, and owned, non-owned and hired automobile liability <br /> insurance coverage relating to Contractor's Work to be performed <br /> hereunder covering City's risks in form subject to the approval of the City <br /> Attorney. The minimum amounts of coverage corresponding to the <br /> aforesaid categories of insurance per insurable event shall be as follows: <br /> Insurance Cateaorv Minimum Limits <br /> Workers' Compensation Statutory minimum. <br /> Employer's Liability $1,000,000.00 per accident for bodily injury or <br /> disease. <br /> Commercial General Liability $1,000,000.00 per occurrence, $2,000,000 <br /> aggregate for bodily injury, personal injury and <br /> property damage. <br /> Automobile Liability $1,000,000.00 per occurrence, (coverage <br /> required to the extent applicable to Contractor's <br /> vehicle usage in performing work hereunder). <br /> Any deductibles or self-insured retentions must be declared to, and <br /> approved by City. At the option of City either Contractor's insurer shall <br /> reduce or eliminate the deductibles or self-insured retentions with respect <br /> to City, its Council, commissions, boards, committees, officers, employees <br /> and agents or Contractor shall procure a bond guaranteeing payment of <br /> losses and related investigations, claim administration and defense <br /> expenses. <br /> Concurrently with the execution of this Agreement, Contractor shall furnish <br /> City with certificates and copies of information or declaration pages of the <br /> insurance required hereunder and, with respect to evidence of commercial <br /> general liability and automobile liability insurance coverage, original <br /> endorsements: <br /> 3 <br />