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provided with insurance companies authorized to do business in tile State of Texas, covering all operations <br />under this Contract, whether performed by the Coutractor or its agents, subcontractors or employees. Before <br />commencing the work, the Contractor will fi~rnish to the City a certificate or certificates in form satisfactory <br />to the City, showing that the Contractor has complied with this paragraph. Ail certificates will provide that <br />the policy will not be materially changed or canceled until at least 30 days written notice will have been <br />given to the City, and will name the City as ail additional insured on all policies except workers' <br />compensation. The kinds and minimum amouuts of insurance required are as follows: <br /> <br />Workers' Compensation hlsurauce: <br /> <br />Statutory amounts <br /> <br />Commercial General Liability insurauce <br /> <br />Bodily Injary <br />Property Damage <br /> <br />$1,000,000 <br />$500,000 <br /> <br />Automobile Liability: <br /> <br />Bodily Injury (each person) <br />Bodily Injnry (each accideat) <br />Preperty Damage <br /> <br />$500,000 <br />$1,000,000 <br />$500,000 <br /> <br />The stated limits of iusurance 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 policy <br />limits or any combination of basic Iimits aad umbrella limits. The City's acceptance of Certificates of <br />Insurance that in any respect do not comply with the requirements of this Contract does not release the <br />Contractor from compliance herewith. <br /> <br />Section 6.3 Bonds <br /> <br />The Contractor will t'arnish a performance bond as security for the performance of the contract within 10 <br />days following the Contractor's receipt ora fi~lly executed contract and before commencing any work under <br />this Contract. The performance bond must be an amount equal to the full contract amount. The Contractor <br />will pay the premium for this bond. The surety on the bond wilI be a duly authorized corporate surety <br />anthorized to do business in the State of Texas. The attorney-in-fact who signs performance bonds must file <br />with each bond a certified and effectively dated copy ora power of attorney. <br /> <br />Page I0 <br /> <br /> <br />