Laserfiche WebLink
Attachment number 2 <br />Page 21 of 21 <br />• <br />Commercial General Liability insurance <br />Bodily Injury $1,000,000 <br />Property Damage $500,000 <br />Automobile Liability: <br />Bodily Injury (each person) $500,000 <br />Bodily Injury (each accident) $1,000,000 <br />Property Damage $500,000 <br />The stated limits of insurance required by this Paragraph are MINIMUM ONLY and it will be the <br />Contractor's responsibility to determine what limits are adequate. These minimum limits may be basic <br />policy limits or any combination of basic limits and umbrella limits. The City's acceptance of Certificates <br />of Insurance that in any respect do not comply with the requirements of this Contract does not release the <br />Contractor from compliance herewith. <br />Section 7.3 Bonds <br />The Contractor will furnish a performance bond as security for the performance of the contract within 10 <br />days following the Contractor's receipt of a fully executed contract and before commencing any work <br />under this Contract, and annually thereafter. The performance bond must be an amount equal to the base <br />• contract amount for six months of the contract. The Contractor will pay the premium for this bond. The <br />surety on the bond will be a duly authorized corporate surety authorized to do business in the State of <br />Texas. The attorney-in-fact who signs performance bonds must file with each bond a certified and <br />effectively dated copy of a power of attorney. <br />This Contract will be effective as of the date executed by the City. <br />City of Sa arcos <br />By: ~ <br />Rick Menc aca, City Manager <br />Date: <br />Attest. <br />Sherry Mashburn ~ Clerk <br />Texas <br />By: <br />Date: <br />~~~ <br />Attest: <br />Pr' ted name, title <br />• <br />21 <br />Item # 16 <br />