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DES:djk 08/31/87R <br /> <br /> ARTICLE VII. <br /> <br /> PERFO~4ANCE BOND; INDEMNIFICATION; INSURANCE <br /> <br /> Section 7.1. Performance Bond. Company shall file a bond <br />for the benefit of Agency in the principal sum equal to not less <br />than the sum of the Billings of Company within Agency's Service <br />Area for the six-consecutive-month period immediately preceding <br />commencement of the first Operating Year, which bond shall be <br />conditioned that Company shall well and truly observe, fulfill, <br />and perform each and every term and condition of this agreement, <br />and that in case of any breach of any term or condition of this <br />agreement, the principal sum named in the bond shall be payable <br />to Agency. Company shall file the bond with the Clerk of <br />Agency's Governing Body within five days after'the commencement <br />date of the first Operating Year in a form satisfactory to <br />Agency's legal counsel. Agency may, in its discretion, make <br />demand upon the surety of said .bond to satisfy an Order for <br />Payment of Compensatory Damages made and issued pursuant to <br />Article VIII; provided, that such right shall not be deemed a <br />limitation upon Agency's rights under said bond. <br /> <br /> Section 7.2. Indemnification. Company Shall defend, <br /> <br /> ? <br />indemnify and save harmless Agency and Authority and their <br /> <br />respective governing bodies, commissions, boards, officers, <br />agents, and employees from any and all claims, suits, <br />proceedings, or actions of every name, kind and description, <br />brought for, or on account of, injuries to or death of any <br />person, or for damage to property, including loss of use thereof, <br />and including all costs, expenses and fees (including fees of <br /> <br />witnesses and attorneys), resulting from Company's active or <br /> <br /> <br />