Agenda - Council - 07/24/1990 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I i I No policy shall contain any provisions for exclusions from liability other than provisions for exclusion from liability forming part of the standard basic unamended and unendorsed form of policy, except that no exclusion will be permitted in any event if it conflicts with a coverage expressly required in this contract, and in addition, no policy shall contain any exclusion from bodily injury to, or sickness, disease or death of any coverage under the contractual liability endorsement of the liability of the Contractor under this contract. Compliance by the Contractor with the foregoing requirements to carry insurance and furnish certificates shall not relieve the Contractor 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 a performance bond in the amount of $ and executed by a corporate surety company authorized 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 shall well and truly perform and carry out the covenants, terms and conditions of this contract in strict accordance with its provisions. This Agreement shall be subject to immediate cancellation by the City at any time if said bond shall be cancelled or the surety thereon relieved from liability because of failure to pay the premium or termination of the period of the bond without 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 agreement by the Contractor, its employees, agents or subcontractors. SECTION 14. TERMINATION The City shall have the right to terminate this Agreement prior to the expiration of its term if in the City's opinion, there has been a breach of its terms by the Contractor. 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. In the event of breach of this contract by Contractor, or proven negligence by the 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. 12