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Owner shall promptly review the Payment Requisition and notify Professional Firm whether the Payment <br />Request is approved or disapproved, in whole or in part. Owner shall promptly pay Professional Firm for all <br />approved services and expenses. For purposes of Texas Government Code § 2251.021(a)(2), the date performance <br />of services is completed is the date when the Owner's representative approves the Payment Requisition. <br /> <br /> Owner shall have the right to withhold from payments due the Firm such sums as are necessary to protect <br />Owner against any loss or damage which may result from negligence by Professional Firm or failure of the Firm <br />to perform its obligations under this Agreement. <br /> <br />ARTICLE 11 <br />PROFESSIONAL FIRMS ACCOUNTING RECORDS <br /> <br /> Records of the Firm costs, reimbursable expenses pertaining to the Project and payments shall be available <br />to Owner or its authorized representative during business hours and shall be retained for three (3) years after final <br />Payment or abandonment of the Project, unless Owner otherwise instructs Professional Firm in writing. The Firm <br />records shall be kept on the basis of generally accepted accounting principles. <br /> <br />ARTICLE 12 <br />INSURANCE <br /> <br />For services performed on Owner's premises, Professional Firm shall furnish to Owner Certificates of <br />Insurance as set forth below prior to the commencement of any work hereunder and shall maintain such coverage <br />during the full term of the Agreement. On the Certificate of Insurance, name the City of San Marcos, c/o <br />Purchasing & Contracting Division, 630 East Hopkins Street, San Marcos, Texas 78666 as an additional <br />insured. <br /> <br />Business Automobile liability insurance with minimum limits of liability for bodily injury and property <br />damage combined of not less than $1,000,000 per occurrence. Contractor will maintain a standard ISO <br />version of Business automobile liability insurance or its equivalent providing coverage for all owned, <br />non-owned and hired automobiles. City named as an additional insured. <br /> <br />Commercial General Liability Insurance: Including Bodily Injury and Property Damage Liability, <br />Independent Contractors Liability, Contractual Liability, Product Liability and Completed Operations <br />Liability in an amount not less than $1,000,000 combined single limit, per occurrence, and $2,000,000 <br />aggregate. City named as an additional insured. <br /> <br />Umbrella Form Excess Liability with minimum limits of $1,000,000. Umbrella coverage must follow <br />form with the primary coverage. (City named as an additional insured.) This coverage typically sits <br />above the underlying General Liability, Automobile Liability and Professional Liability policies. <br /> <br />Workers' Compensation <br />Act of the State of Texas in amounts sufficient to satisfy statutory requirements or <br /> <br /> <br />Certificate of coverage or certificate means a copy of a certificate of insurance, a certificate of authority <br />to self-insure issued by the Commission, or a coverage agreement (TWCC-81, TWCC-82, TWCC-83, <br />or TWCC- <br />employees providing services on the Project, for the duration of the Project. <br /> <br />Professional Liability: Not less than $2,000,000 per claim-based policy to be maintained for the duration <br />of the agreement and two-year extended reporting period. This insurance requirement applies when a <br />supplier has a professional designation or license and/or is providing professional services. <br /> <br />Rev 12.12.2024 <br />Page 8 of 44 <br /> <br />