2018-02-14 CC Packet - Laserfiche WebLink

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coverages. 12. Deductibles. All responsibility for payment of any sums resulting from any deductible provisions, corridor, or self-insured retention conditions of the policy or policies shall remain with the Contractor. 1. Termination 1. The City shall have the right to terminate the Contract if in the City's judgment there has been a breach of any material provision thereof by the Contractor, or if in the City's judgment there is other good cause for termination. Continuing breach or good cause shall not be deemed acceptable because it was not followed by prompt termination. 2. Upon the failure of the Contractor to fulfill any of the provisions of the Contract, the City Administrator shall be authorized to hire such persons and equipment, or assign City employees and equipment, as may be necessary to do such work and the cost of such expenses thereof may be charged and deducted from any monies due the Contractor, collected from the Contractor, or collected by recourse to the Contractor's bond or financial guarantee instrument submitted. 3. Notwithstanding Section I., 1 & 2, Contractor shall not be in breachand City shall have no right to terminate this agreement unless Contractor fails to cure said breach or failure to perform within seven (7) days of written notice from the City to the Contractor. The breach or failure must be cured to the satisfaction of the City Administrator. Notice required in this paragraph is sufficient if delivered by email to Contractor's designated representative. K. Performance Bond 1. Performance Bond 2. The Contractor shall provide, at no cost to the City, either an irrevocable letter of credit, or a performance bond in the amount of$100,000 executed by a corporate surety company authorized to do business in the State of Minnesota to secure the faithful performance of this contract by said Contractor conditioned that the Contractor shall well and truly perform and carry out the covenants, terms, and conditions of the contract in strict accordance with its provisions. The contract shall be subject to termination by the City at any time if said bond shall be canceled or the surety thereon relieved from liability because of failure to pay the premium or termination of the period of the bond without renewal thereof. Evidence of insurability and of the proposer's ability to secure a performance bond or an irrevocable letter of credit, in the form of a bank letter or surety letter from a corporate surety company authorized to do business in the State of Minnesota, shall be submitted concurrent with the submission of the Contractor's proposal. Centerville -Garbage RFP -Page 112 32