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<br /> :21;' <br /> 12.00 BOND <br /> 12.01 Performance Bond <br /> (a) The Contractor will be required to furnish a <br /> corporate surety bond as security for the <br /> performance of this Contract. Said surety bond <br /> must be in the amount of One Hundred Thousand <br /> Dollars ($100,000) and may provide for a pro <br /> rata reduction therein annually over the term of <br /> the Contract. <br /> (b) The premium for the bond described above shall <br /> be paid by the Contractor. A certificate from <br /> the surety showing that the bond premiums are <br /> paid in full shall accompany the bond. <br /> (c) The surety on the bond shall be duly authorized <br /> corporate surety company authorized to do <br /> business in the State of Texas. <br /> 12.02 Power of Attorney -- Attorneys-in-fact who sign <br /> performance bonds or contract bonds must file with each <br /> bond a certified and effectively dated copy of their <br /> power of attorney. <br /> 13.00 BASIS AND METHOD OF PAYMENT <br /> ~ <br /> 13.01 Rates <br /> (a) For collection and delivery services required to <br /> be performed pursuant to Section 3.01, the <br /> charges shall not exceed the rates as fixed by <br /> the Proposal, as adjusted in accordance with <br /> Section 13.02. <br /> (b) The Recyclable Materials collection charges <br /> i provided by Section 13.01(a) shall include all <br /> ! costs of delivery' to a Commodity Buyer or, if <br /> necessary, a landfill. <br /> (c) In the event of any change in the list of Commodities <br /> under section 2.01 (b) and (d), the Contractor may, and at <br /> the City's request, shall present an analysis to the City <br /> of the impact upon its operations of the change, and any <br /> resulting need for a change in the rates charged <br /> hereunder. On the basis of the city's review of the <br /> analysis, the Contractor and the City may negotiate a <br /> change in the rates charged hereunder. <br /> 18572 - 12 - <br />