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20. Either party may terminate this contract upon the serving of such termination notice to <br /> the other, in writing, thirty (30) days prior to the intended termination date. <br /> 21. A copy of this contract, along with the authorized fee schedule, shall be posted in a <br /> conspicuous place in the Contractor's place of business. <br /> Failure to meet any or all of the requirements of this section may result in termination of the <br /> contract at any time, as per the conditions specified for contract termination. <br /> Insurance <br /> The successful Contractor shall not commence work under the contract until the specified <br /> insurance coverages have been obtained. The Contractor shall file, within seven (7) days <br /> following notification of proposal selection, with the Ramsey City Clerk, all certificates of <br /> insurance or documentation thereof indicating that all specific insurance has been obtained <br /> and is in full force. The City of Ramsey shall be named as an additional insured on said <br /> comprehensive general liability policy. <br /> The following coverage's are required as minimums: <br /> A. <br /> 1 . Public Liability Insurance: $1 ,000,000 Comprehensive General Liability <br /> (including assault) <br /> 2. Business Auto Policy with all coverage's (all vehicles) with $1,000,000 <br /> limits. <br /> 3. Garage Keepers Legal Liability. <br /> B. Workers' Compensation Insurance covering all employees of the Contractor, or <br /> his/her agents, working under this contract in accordance with the Minnesota <br /> Workers' Compensation Law. <br /> The Contractor shall agree to provide to the Ramsey City Clerk, thirty (30) days prior written <br /> notice in the event any policy is canceled or a material change is effected and each policy <br /> must contain a provision that the insurer notify the Ramsey City Clerk immediately if a policy <br /> is canceled or a material change has been effected. <br /> Performance Bond <br /> On or before the date that the contract between the City and the towing service becomes <br /> effective, the Contractor shall file with the Ramsey City Clerk an acceptable Corporate surety <br /> bond in the amount of$10,000, payable to the City of Ramsey and subject to the approval by <br /> the Ramsey City Attorney for the faithful performance of all duties and obligations imposed <br /> under the terms and conditions of the contract. <br />