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6.17 idemnification The Contractor agrees to defend, indemnify, and hold harmless the City, its officers, and employees, from any liabilities, claims, damages, costs, judgments, and expenses, including attorneys' fees, resulting directly or indirectly from malfeasance, misfeasance, negligence, or an act or omission of the Contractor, its employees, its agents, or employees of subcontractors, in the performance of the services provided by this Contract or by reason of the failure of the Contractor to fully perform, in any respect, any of its obligations under this Contract. If a Contractor is a self -insured agency of the State of Minnesota, the terms and conditions of Minnesota Statute 3.732 et seq. shall apply with respect to liability bonding, insurance, and liability limits. The provisions of Minnesota Statutes Chapter 466 shall apply to other political subdivisions of the State of Minnesota. 6.18 Performance & Payment Bond Contractor shall execute and deliver to the City a Performance Bond and a Payment Bond with the corporate surety in the sum of $50,000 each, or equal ("equal" may include a Letter of Credit from a banking institution approved by the City). This Contract shall not become effective until such a bond, in a form acceptable to the City, has been delivered to the City and approved by the City Attorney. The executed Contract shall be subject to termination by the City at any time if said bond shall be cancelled or the surety thereon relieved from liability for any reason. The term of such performance bond shall be for the life of the executed Contract. Extensions or renewals shall require the execution and delivery of a performance bond, and a payment bond, in the above amounts to cover the period of extension or renewal. 6.19 Conflict of Interest Contractor agrees that no member, officer, or employee of the City shall have any interest, direct or indirect, in the executed Contract or the proceeds thereof. Violation of this provision shall cause the executed Contract to be null and void, and the Contractor will forfeit any payments to be made under the executed Contract. 6.20 Entire Contract The executed Contract supersedes all verbal Contracts and negotiations between the parties relating to the subject matter hereof, as well as any previous Contracts presently in effect between the parties relating to the subject matter hereof Any alterations, amendments, deletions, or waivers of the provisions of the executed Contract shall be valid only when expressed in writing and duly signed by the parties, unless otherwise provided herein. 6.21 Contract Conditions a) The City reserves the right to waive minor irregularities in the proposal documents and to reject any or all proposals. The City reserves the right to enter into a Contract with a Contractor who does not submit the lowest cost proposal. RFP for City of Roseville Recycling Services . A-31