Res 2015-135/approving an agreement between the City and Wells Fargo Bank, N.A. for the provision of Depository Services contingent upon the depository’s provision of sufficient insurance in accordance with the attached agreement

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Clot be limited to, the antottnts of jtidamettts, penalties, Interest, court costs, reasonable legal fees, expert witness fees raid all other expenses incurred by the City Arising in favor of imy party, inclirclirtg the amomits of caty damages or awards resulting front claims demturdLs turd causes of action for personal injuries, death or damages to property, alle;ed or actual iii ittgernent of patents, copyrights attd trademarks in the perforulance of the ►vork or the incorporation in the work of atry invention, design, process, product or device cued without limitation by enutner•ation, all other claims, demand.,, or causes of action of every character occttrrittq, resulting, or arising solely front any negligent or intentional wrotigffil act, error or omission of the Depository and/or its agents and/or employees. This obligation by Depository will not be limited because of the specification of clay particular insurance coverage hi this Agreement. 8.2 The Depository will procure and maintain at the Depository's expense insurance with insurance companies authorized to do business in the State of `l'exas, covering all operations under this Agreement, whether performed by the Depository or the Depository's agents, subcontractors or employees. Before commencing the work, the Depository will famish to the City a certificate or certificates in form reasonably satisfactory to the City, showing that the I:)epository hits complied with this paragraph. 'I'lie Depository will give the City at least 30 calendar days prior written notice of any change or cancellation of any insurance that results in noncompliance with this paragraph. Failure of the Depository to demand a. certificate or other sufficient evidence of full compliance with these insurance requirements or failuu-e of the Depository to identity a deficiency from the evidence that is provided as proof of insurance will not be construed as a waiver of the Depository's obligation to maintain the required insurance coverage specified. herein. Commercial general liability insurance and motor vehicle insurance will be written with the City of San Marcos, "texas included as an additional insured and wilt provide or be endorsed to provide a waiver of the carrier's right of subrogation against the City. '['he kinds and amounts of insurance required are as follows: Workers' Compensation Insurance and /or Employer's Liability: In accordance with the provisions of the Workers' Compensation Act of the State of Texas and /or $500,000.001500,000.00 for Employer's Liability. Liability Insurance: (1) Commercial general liability insurance (standard. ISO version) with a combined single limit of $1,000,000 for each occurrence and $1,000,000 in the aggregate, providing coverage for, but not limited to, bodily injury and property damage, premises /operations, products /completed operations, independent providers as applicable (2 ) Business Motor Vehicle liability insurance (standard. ISO version) in an amount not less than $1,000,000 per occurrence (3) professional liability coverage to cover lawful claims arising in connection with the Project in the combined single limit amount of at least $1,000,000.00 as applicable. Commercial Crime /Fidelity Bond – Limit not less than the value of funds or properties in control of Depository until delivered to City The Depository agrees to furnish a Commercial Crime /Fidelity Bond for Employee Dishonesty on a blanket basis. The stated limits of insurance required by this Paragraph are minimum only —they do 6