O-1995-2073 - Laserfiche WebLink

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10.01 11. 00 11. 01 11.02 e e INSURANCE POLICY LIMITS For the purposes of the Contract, the Contractor shall carry the following types of insurance in at least the limits specified below: COVERAGES LIMITS OF LIABILITY Worker's Compensation Statutory Employer's Liability Public Liability, Bodily Injury, Including Death, Except Automobile Property Damage Liability Except Automobile $500,000 per occurrence $500,000 each occurrence $1,000,000 'aggregate $500,000 each occurrence $1,000,000 aggregate Automobile Bodily Injury Liability, (owned and non- owned), Including Death Automobile Property Damage Liability (owned and non-owned) $500,000 each person $1,000,000 ea. occurrence $500,000 each occurrence Excess Umbrella Liability $5,000,000 ea. occurrence PERFORMANCE BOND - Upon award of the Contract, the Contractor shall furnish to the City a corporate surety bond, issued by a corporate surety licensed to do business in the State of Texas, as security for the faithful performance of this Contract. Said surety bond must be in the amount of three hundred and fifty thousand dollars ($350,000.00), which represents the estimated billing for the first year of the Contract. The bond shall indemnify the City against any loss resulting from any failure of performance by the Contractor up to and including the penal sum of the bond. PREMIUM - The premium for the bond(s) described above shall be paid by the Contractor. A certificate from the surety showing that the bond premiums are paid in full shall accompany the bond. POWER OF ATTORNEY Attorneys in fact who sign performance bonds or contract bonds must file with each bond a certified and effectively dated copy of their power of attorney. PAGE 11 OF 21