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The City shall b~ nma'~ed as an ~tditional insured on the above policies for coverage needed only for work as spe~ ~ed in this Contract, which endorsement shall provide that coverage may not be terminated or eh4mged by the insurer except upon 30 days written notice to the City Administrator. No policy shalltcontain any provisions for exclusions from hability other than provisions for exclusion from ~ability forming pan of the standard basic unamended and unendorsed form of policy, except t,h. at no exclusion will be permitted in any event if it conflicts with a coverage expressly requir~ in this Contract, and in addition, no policy shall contain any exclusion from bodily injury tot or sickness, disease or death of any coverage under the contractual liability endorsement ofithe liabihty of the Contractor under this Contract. Compliance by the Contractor witlj the foregoing requirements to carry insurance and furnish certificates shall not relieve the Con, actor from liability assumed under any provisions of this Contract. SECTION 12.~ PERFORMANCE BOND This Contract shall not be in effect until the Contractor has executed and delivered to the City Administrator alpefformance bond in the amount of $25,000.00 and executed by a corporate surety company ~uthorized to do business in the State of Minnesota and satisfactory to the City to secure the faithful performance of this Contract by the Contractor, conditioned that the Contractor shallwell 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 from hability b&ause of failure to pay the premium or termination of the period of the bond without renewal thereof. SECTION 13.: INDEMNIFICATION The Contractoj' shall indemnify and hold harmless the City and its officers, agents and employees from hnd against ail 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 o? obligations in consequence of the performance of this Contract by the Contractor, its e~mployees, agents or subcontractors. SECTION 14.1 TERMINATION The City shall halve the right to terminate this Contract prior to the expiration of its term if in the City's opinion, ~ere has been a breach of its terms by the Contractor or if the City decides to change the way ~ which it provides for the refuse and recycling services. SECTION 15.r PENALTIES AND DAMAGES A. t:;ailure bY the Contractor to perform under this Contract, may result in its termination and/or clm.'.'.'ms by the City for damages. B. in the evfint of breach of this Contract by the Contractor, or proven neghgence by the ContractOr, the Contractor agrees to pay, in adcti?n to the actual damages sustained by the City ~ a result thereof, the reasonable attorney s fees incurred by the City in pursuing any of its ~ghts under this Contract. SECTION 16.~ SUCCESSORS AND ASSIGNS The Contractor ibinds itself, its successors, executors, administrators and assigns to the City in respect to all cov~nants of this Contract, except that the Contractor shall not assign or transfer any pan of its interest in this Contract nor shall the Contractor assign any monies due, or to become due, wittiout the City's written consent.