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<br />CITY'S expenditures within fifteen (15) days of demand, the total sum o'vved shall accrue
<br />interest at the rate of twelve percent (12%) until paid, and such failure shall be deemed an
<br />event of default hereunder.
<br />
<br />Notwithstanding the insurance requirements in this subsection 10.19, ARTIST shall be
<br />solely responsible for the safe keeping and preservation of any and all Work, and of the
<br />Project, and shall be solely responsible and liable for any risk of loss or damage to any
<br />and all Work, and/or to the Project, up to the CITY'S final written acceptance of the
<br />Project. In the event that all or any portion of the "Vork, or the Project, is lost, stolen,
<br />damaged, or destroyed (whether in whole or in part) prior to the CITY'S final written
<br />acceptance of the Project, ARTIST shall be solely responsible for undertaking such
<br />corrective measures as shall be deemed reasonably necessary by the CITY, to repair,
<br />replace, redo, and/or restore any and all lost, stolen, damaged, and/or destroyed (as the
<br />case may be) portions of the Work, or of the Project, and such measures shall be
<br />undertaken in accordance with means and methods, as well as a completion schedule,
<br />as shall be approved by the Contract Administrator, such approval not to be
<br />unreasonable withheld. Further, such measures shall be undertaken at ARTIST'S sole
<br />cost and expense, at no additional cost, and/or liability to the CITY.
<br />
<br />10.21 INDEIvINIFICA TION
<br />
<br />ARTIST agrees to indemnify and hold harmless the CITY OF SUNNY ISLES BEACH and its
<br />officers, employees and agents, from and against any and all actions, claims, liabilities, losses,
<br />and expenses, including, but not limited to, attorneys' fees, for personal, economic or bodily
<br />injury, wrongful death, loss of or damage to property, at law or in equity, which may arise or be
<br />alleged to have arisen from the negligent acts, errors, omissions or other negligent conduct of
<br />the ARTIST, its employees, agents, sub-consultants, or any other person or entity acting under
<br />ARTIST'S control, in connection with the ARTIST'S performance of the Work pursuant to this
<br />Agreement; and to that extent, the ARTIST shall pay all such claims and losses and shall pay
<br />all such costs and judgments which may issue from any lawsuit arising from such claims and
<br />losses, and shall pay all costs and attomeys' fees expended by the CITY in the defense of such
<br />claims and losses, including appeals. The parties agree that one percent (I %) of the total
<br />compensation to the ARTIST for performance of the Work under this Agreement is the specific
<br />consideration from the CITY to the ARTIST for the ARTIST'S Indemnity Agreement.
<br />
<br />The ARTIST'S obligation under this Subsection shall not include the obligation to indemnify
<br />the CITY OF SUNNY ISLES BEACH and its officers, employees and agents, from and against
<br />any actions or claims which arise or are alleged to have arisen from negligent acts or omissions
<br />or other negligent conduct of the CITY and its officers, employees and agents. The parties each
<br />agree to give the other pmiy prompt notice of any claim coming to its knowledge that in any
<br />way directly or indirectly affects the other pmiy.
<br />
<br />IN WITNESS WHEREOF, the parties have made and executed this Agreement on the
<br />respective dates under each signature: CITY of Sunny Isles Beach, Florida, signing by
<br />and through its Mayor, authorized to execute same by the City Commission, and
<br />ARTIST, duly authorized to execute same.
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