Reso 2002-416 - Laserfiche WebLink

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b. If a Cash Bond was furnished, the City will examine the conditions relating to the delay, as well as the amount and nature of the work remaining to be completed; and his decision will determine whether partial payments will continue to be made or withheld. The validity of the Bond shall in no way be affected regardless of which course of action is taken. No payments, either partial or final, are to be made for any material which is to be used for falsework or plant, but payment is to be made only for materials which are left permanently in the finished structure and form a part of it. The City may, at his discretion, allow temporary partial payments for plant and falsework, but the Contractor shall have no right to demand such compensation. The schedule prices to be employed in making partial payments shall be determined by the Engineer. The prices for both the monthly and final estimates of the work done will be based on the prices shown in the Proposal and the Bid, and payment will be made thereon as herein provided. 5. Undisclosed Conditions. In the event that undisclosed conditions are discovered during the performance of this Agreement, the City shall have the right to cancel this Agreement upon thirty (30) days written notice to contractor. Upon termination, the City may re-bid the project if the contractor fails to perform under this Agreement due to the undisclosed conditions. 6. Insurance. (a) Contractor shall, at its sole cost and expense, during the period of any work being performed under this Agreement, procure and maintain the following minimum insurance coverage to protect the City and Contractor against all loss, claims, damage and liabilities caused by Contractor, its agents, contractors or employees, as more particularly set forth below: General liability insurance, including broad form contractual liability coverage for bodily injury and property damage liability with limits of One Million Dollars ($1,000,000) combined single limit occurrence. Such insurance shall not diminish Contractors indemnification obligations hereunder. The insurance policy shall be issued by such company, in such forms and with such limits of liability and deductibles as are acceptable to the City and shall be endorsed to be primary over any insurance, which the City may maintain. Before any work under this Agreement is performed, and at any time upon request, Contractor shall furnish to the City certificates of insurance evidencing the minimum required coverage and appropriately endorsed for contractual liability with the City named as an additional insured. All policies shall contain a waiver of subrogation endorsement. All policies and certificates shall be in forms and issued by insurance companies acceptable to the City's Risk Management Department. All insurance policies and certificates of insurance shall provide that the policies may not be canceled or altered without thirty (30) calendar days prior written notice to the City's Risk Management Department. The City reserves the right from time to time to change the insurance coverage and limits of liability required to be maintained by Contractor hereunder. 7. Failure to Complete the Work on Time: The limit for the completion of all work under this Contract shall be as set forth in the Proposal. The Project shall be completed within Page 3 of3 Agreements/Golden Shores Drainage and Street Improvements/I/3I/02 (eb)