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I I General liability insurance (including contractual liability): Bodily Injury Property Damage $500,000.00 $100,000.00 Automobile Liability: Bodily Injury (each person) Bodily Injury (each accident) Property Damage $250,000.00 $500,000.00 $100,000.00 The stated limits of insurance required by this Paragraph are MINIMUM ONLY and it will be BFI's responsibility to determine what limits are adequate. These minimum limits may be basic policy limits or any combination of basic limits and umbrella limits. The City's acceptance of Certificates of Insurance that in any respect do not comply with the requirements of this Contract does not release BFI from compliance herewith. 7.3 BFI will furnish a performance bond as security for the performance of the contract within 10 days following BFl's receipt of a fully executed contract and before commencing any work under this Contract. The performance bond must be an amount equal to the full contract amount. 7.4 BFI will pay the premium for the performance bond described above. 7.5 The surety on the bond will be a duly authorized corporate surety authorized to do business in the State of Texas. 7.6 The attorney-in-fact who signs performance bonds must file with each bond a certified and effectively dated copy of their power of attorney. This Contract will be effective as of the day and year executed by the City. City of San Marcos ~~Gl& j M~ Lar D. ey, City 'nager By: Si Kevin Turner / vir.p Prp~ident Printed or typed name, title Date: Date: 8/13/97 7/29/97 Attest: By: ~~ K~ Si~natu~e) . ~ 0.:., \ ~~~ Printed or typed name, title GAIL KAISER Notary Public. Stale of Texas My CommIalon ExpIr8I AUG. 31,1999 20