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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 />