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Eureka Recycling will guarantee "floor" pricing on paper grades <br />specified in Section V1.3A of the contract and aluminum cans. <br />These two commodities account for approximately 90% of the total <br />revenue stream. The city revenue share will be based on whichever <br />is higher, the index price minus processing fees, or the floor price <br />minus processing fees. For aluminum cans, the floor price will be <br />$0.45 per pound for the term of the contract. For newspaper, the <br />floor price will be $50 a ton for the term of the contract. <br />4. Method of Pavment to Citv: Contractor shall submit a check for the <br />City's portion of the revenue share on a quarterly basis. The <br />Contractor shall provide, together with the rebate to the City, <br />adequate documentation of the corresponding estimate of tons of all <br />corresponding commodities collected from the City. Also, the <br />Contractor shall provide copies of the referenced market indexes or <br />Load Verification Forms with each statement. <br />S. Licluidated Damacles: The Contractor shall agree, in addition to any <br />other remedies available to the City, that the City may withhold <br />payment from the Contractor in the amounts specified in the RFP <br />Section 8.05 as liquidated damages for failure of the Contractor to <br />fulfill its obligations. <br />6. Services Not Provided For: No claim for services furnished by the <br />Contractor not specifically provided for herein shall be honored by the <br />City. <br />VI1. Insurance <br />1. Insurance: Insurance secured by the Contractor shall be issued by <br />insurance companies acceptable to the City and admitted in <br />Minnesota. The insurance specified may be in a policy or policies of <br />insurance, primary or excess. Such insurance shall be in force on <br />the date of execution of the contract and shall remain continuously in <br />force for the duration of the contract. <br />Contractor shall provide a Certificate of Insurance as proof of <br />general liability coverage for bodily injury or death in the amount of <br />$1 million for bodily injury or death and in the amount of $200,000 <br />for damages to property. <br />�� <br />