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CITY OF ARDEN HILLS, MN CONTRACT FOR THE COLLECTION OF RESIDENTIAL RECYCLABLE MATERIALS Page 11 damages arising out of bodily injuries or death of one person, and subject to that limit for each person, and regular Contractor’s auto, bodily injury and property damage liability insurance providing for a limit of not less than One Million Five Hundred Thousand Dollars ($1,500,000.00) for all damages arising out of injury to or destruction of property in any one accident, and subject to that limit per accident. The Contractor shall also provide workers’ compensation insurance and employers’ liability insurance as required by law. Policies or coverage required shall be updated as necessary to meet at least the amounts specified in Minn. Stat. § 466.04 for each year of the Contract. Contractor shall provide Environmental Impairment Liability (Pollution Legal Liability) for sudden and non-sudden (gradual) pollution occurrences covering all facilities and equipment owned and used by Contractor, or its agents or employees. Limits of liability shall be no less than $5,000,000 for each occurrence and $5,000,000 aggregate, and shall continue for a two year period following termination of this Agreement. A copy of the insurance certificate shall be filed with the Recycling Coordinator or designee. Such policy shall provide for ten days’ notice to the City of any change, cancellation, or lapse of such policy. The Contractor shall further guarantee and save harmless and indemnify the City of and from any and all loss, damage, claims, suits, judgments and recoveries which may be asserted, made or may arise or be had, brought or recovered against the City by reason of any of the foregoing claims except such as are caused by the existence of the disposal sites at the locations specified or contemplated in the Contract; and that it shall immediately appear and defend the same as its own cost and expense. Prior to the effective date of this Contract, the Contractor shall file a copy of such policies with the Recycling Coordinator. 10 Payment and Performance Bonds/Letter of Credit 10.1 Before the Contract shall be valid or binding against the City, the Contractor shall provide both a Payment Bond and a Performance Bond or Letters of Credit to the City of Arden Hills for the use of said City, and also for the use of anyone who may perform or cause to be performed any work or labor, or furnish or cause to be furnished any skill, labor, equipment, or materials in the execution of such Contract, which bonds shall be signed by the Contractor and shall be in the amount of fifty (50) percent of yearly Contract. The Bonds or Letters of Credit shall at all times be kept in full force and effect. The Bonds or Letters of Credit shall be approved by the City Attorney and filed with the City Clerk or designee. The conditions of the Bonds or Letters of Credit shall be that the Contractor shall fully and faithfully perform all conditions of the Contract and these specifications; shall pay anyone who may perform or cause to be performed any work or labor, or furnish or cause to be furnished any skill, labor, equipment or material in the execution of such Contract; and such Bonds or Letters of Credit shall provide the full amount thereof and shall be forfeited upon the Contractor’s failure to comply therewith. 11 Transferability of Contract