Res 2008-155 - Laserfiche WebLink

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days written notice will have been given to the City, and will name the City as an additional insured on all policies except workers' compensation. The kinds and minimum amounts of insurance required are as follows: Workers' Compensation Insurance: Statutory amounts Commercial General Liability insurance Bodily Injury $1,000,000 Property Damage $500,000 Automobile Liabili Bodily Injury (each person) $500,000 Bodily Injury (each accident) $1,000,000 Property Damage $500,000 The stated limits of insurance required by this Paragraph are MINIMUM ONLY and it will be the Contractor'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 the Contractor from compliance herewith. Section 7.3 Bonds The Contractor will furnish a performance bond as security for the performance of the contract within 10 days following the Contractor's receipt of a fully executed contract and before commencing any work under this Contract, and annually thereafter. The performance bond must be an amount equal to the base contract amount for six months of the contract. The Contractor will pay the premium for this bond. The surety on the bond will be a duly authorized corporate surety authorized to do business in the State of Texas. The attorney-in-fact who signs performance bonds must file with each bond a certified and effectively dated copy of a power of attorney. This Contract will be effective as of the date executed by the City. City of San Marcos 11 By: L4-- Rick Menchaca, City Manager Date: WV A Attest: Sherry ashburn, ity Clerk Texas Disposa Sy to s, In . By: - Printed name, title Date: /7-- L O e Attest: o.. Printed name, title 22