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EXHIBIT "C" <br />Insurance and Bonding Requirements for Contractor <br />Pavment and Performance Bonds for Contractor <br />• The contractor will furnish performance and payment bonds as security for the faithful <br />performance and payment of all of its obligations under the contract for construction. <br />These bonds will be on the forms acceptable to the City, in amounts at least equal to the <br />construction contract price, and with corporate sureties authorized and admitted to write <br />surety bonds in Texas. <br />• The contractor will substitute another bond and surety within five days of receiving <br />notice from the surety, the HCWC or the City that the surety on a bond has declared <br />bankruptcy, become insolvent or had its right to do business in this state terminated or <br />revoked. <br />Insurance for Contractor <br />The contractor will purchase and maintain insurance related to the Project, proof of which will be <br />in a form acceptable to the City, as follows: <br />• Workers' compensation insurance in amounts sufficient to satisfy statutory requirements. <br />The Contractor will obtain a certificate from each subcontractor verifying workers' <br />compensation coverage for all employees of the subcontractor, and will file the certificate <br />with the Owner before commencement of work by the subcontractor. <br />• Comprehensive general liability insurance for personal injury, sickness, disease or death <br />with minimum limits of liability of not less than $500,000 per occurrence. <br />• Comprehensive general liability insurance for damages for injury to or destruction of <br />tangible property of others. The minimum limits of liability will be $100,000 per <br />occurrence and $500,000 aggregate. <br />• Motor vehicle liability insurance with minimum limits of liability for bodily injury and <br />property damage combined of not less than $500,000 per occurrence. <br />• Umbrella Form Excess Liability with minimum limits of $1,000,000. Umbrella coverage <br />must follow form with the primary coverage. <br />• Property insurance upon the entire Project, including materials not in place at the site to <br />the full insurable value thereof. This insurance will be in an "all risk" form and will <br />11 <br />