Agenda - Council - 02/14/1995 - Laserfiche WebLink

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I SECTION 12. PERFORMANCE BOND This Contract shall not be in effect until the Contractor has executed and delivered to the City A~istrator a performance bond in the amount of $25,000.00 and executed by a corporate surety company authorized to do business in the State of Minnesota and satisfactory to the City to secu~ the faithful performance of this Contract by the Contractor, conditioned that the Con'actor shall well and truly perform and carry out the covenants, terms and conditions of this Contract in strict accordance with its provisions. This Contract shall be subject to immediate cancellation by the City at any time if said bond shall be cancelled or the surety thereon relieved fromiliability because of failure to pay the premium or termination of the period of the bond with6ut renewal thereof. sECTION 13. INDEMNIFICATION The Contractor shall indemnify and hold harmless the City and its officers, agents and employees from and against all claims, damages, losses or expenses, including attorney fees, for which it may be held liable, arising out of or resulting from the assertion against them of any claims, debts or obligations in consequence of the performance of this Contract bY the Contractor, its employees, agents or subcontractors. SECTION 14. TERMINATION The ~ity shall have the right to terminate this Contract prior to the expiration of its term if in the City!.S opinion, there has been a breach of its terms by the Contractor or if the City decides to change the way in which it provides for the refuse and recycling services. sECTION 15. PENALTIES AND DAMAGES ~. Failure by the Contractor to perform under this Contract, may result in its termination ~ and/or claims by the City for damages. Bi. In the event of breach of this Contract by the Contractor, or proven negligence by the i Contractor, the Contractor agrees to pay, in addition to the actual damages sustained by : the City as a result thereof, the reasonable attorney's fees incurred by the City in pursuing ~ any of its rights under this Contract. SECTION 16. SUCCESSORS AND ASSIGNS The Contractor binds itself, its successors, executors, administrators and assigns to the City in respeCt to all covenants of this Contract, except that the Contractor shall not assign or transfer I I I I I I I I I I I' I I I I' I I