2001-053 Ordinance - Laserfiche WebLink

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minimally provide the following insurances in the following amounts as listed herein: Contractor's Protective Liability - Bodily Injury $300,000/$500,000, Property Damage - $100,000/$300,000, and Automobile Liability (Owned, Non-Owned and Hired Automobiles) - Bodily Injury $300,000/$500,000, Property Damage -$100,000. Coverage shall be for each occurrence which may arise out of or result from the Vendor's operations under the contract, whether such operations be by himself or by any sub-contractor or anyone directly or indirectly, employed by either of them while on the premises of the City, during the delivery or performance of the Agreement. All policies and certificates must contain an endorsement that the policy cannot be canceled or amended until ten (10) days after the City receives written notice by registered inail. Performance Bond 4.05 The Vendor shall furnish to the City a performance bond, payable to the City of North Olmsted, in a sum equal to One Thousand Dollars ($1,000.00), with good and sufficient sureties or with a surety company authorized to do business in the State of Ohio, conditioned on the faithful performance of this Agreement in accordance with the provisions thereof. Such bond shall also indemnify the City against damages that may be suffered by the failure of Vendor to perform this Agreement according to the provisions hereof and in accordance with the specifications set forth in this Agreement. Taxes and Licenses 4.06 The Vendor shall be responsible for the filing of any tax returns, including but not limited to personal income taxes, sales taxes, and any and all other taxes directly related to the services which Vendor provides pursuant to t11e provisions of this Agreement, and for the securing of any licenses, permits or the like, required by any federal, state, or local law. ARTICLE FIVE. EVENTS OF DEFAULT 5.01 The following acts of Vendor shall be considered events of default, entitling the City to invoke any or all of the remedies provided for in this Agreement, and any other remedies available to it for breaches of contract as provided for at law or in equity: (a) The Vendor's insolvency; (b) The Vendor's filing for bankruptcy ar any other proceeding seeking protection from creditors; (c) The termination, cancellation, rescission, or suspension of any insurance policy whicll the Vendor is required to maintain pursuant to the provisions of this Agreement; (d) The conviction of Vendor, or any of its shareholders, officers or employees, of any misdemeanor (other than minor misdemeanor traffic offense) or felony; (e) The violation by Vendor, or any of its shareholders, officers or employees, of any 4