Agenda - Council Work Session - 08/23/2016

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J r the City or of those to whose benefit the bond herein agreed upon shall insure,to hold the Contractor or surety liable on the bond for any breach of the conditions of the same nor as imposing upon the City any obligation to laborers, Contractors, or sureties to pay or to retain for their benefit any monies coming to the Contractor hereunder. 7. The Contractor agrees to hold the City harmless from all damages and claims for damages that may arise by reason of any negligence or violation of the law on the part of the Contractor, Contractor's agents or employees, while engaged in the performance of this contract and agrees to take all precautions necessary to protect the public against injury. In addition, Contractor agrees to keep in force statutory workers' compensation insurance and shall maintain at all times during the performance of this contract liability coverage naming the City of Ramsey and Hakanson Anderson Associates, Inc. as an additional insured in the amounts as specified in the Request for Quotes. If the amount of this contract is $75,000 or more, Contractor shall post with the City payment and performance bonds acceptable to the City in the amount of the contract to secure the faithful performance of this contract and the payment of all subcontractors by the Contractor and to be conditioned as required by Minnesota Statutes, Section 574.26 to 574.32. 8. The Contractor represents in the submittal of its quote that it has examined and carefully studied the contract documents; available studies and reports; has visited the site and become familiar with the work and is satisfied as to the general, local, and site conditions that may affect progress of the work. Additionally,the Contractor is familiar with and is satisfied as to all federal, state, and local Laws and Regulations that may affect cost, progress, and performance of the work. Contractor does not consider that any further examinations, investigations, explorations, test, studies or data are necessary. 9. In consideration of the covenants and agreements stated above the City agrees to pay the Contractor the sum mentioned in the proposal or quote of the Contractor, which is attached hereto and made a part of this contract as fully and to the same extent as if herein set forth in full. The City shall hold payment until the final performance and completion of this contract by the Contractor to the satisfaction, approval, and acceptance of the City Representative including provision by the Contractor of Minnesota Department of Revenue Form IC-134.