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'Y'r or slit' M� <br />2.4 TERM OF CONTRACT <br />This contract shall commence upon execution by both parties which shall be the effective date <br />succeeding approval of the contract by the City Commission, unless otherwise stipulated in the <br />agreement, and continue until the completion of the studies and acceptance by City. <br />2.5 METHOD OF AWARD <br />The City intends to select a firm that it considers the best qualified to perform the requested <br />services and is in the best interest of the City. The selected firm will be required to negotiate and <br />execute an agreement with the City, which will require City Commission approval by Resolution. <br />City reserves the right to reject the Sealed Response of any firm if City believes that it would not <br />be in its best interest to make an award to that Firm, whether because the sealed response is not <br />responsive, the firm is unqualified, of doubtful financial ability, or fails to meet any other pertinent <br />criteria established by City. <br />2.6 PERFORMANCE AND PAYMENT BOND <br />Intentionally Omitted <br />2.7 BID BOND <br />Intentionally Omitted <br />2.8 INSURANCE <br />Upon City's notification, the Firm shall furnish to the City, Certificates of Insurance that indicate <br />that insurance coverage has been obtained, which meet the requirements outlined below: <br />2.8.1 Comprehensive General Liability Insurance <br />Contractor shall be required to purchase, maintain, and keep in full force, effect, and good <br />standing, Comprehensive General Liability with primary limits of One Million Dollars <br />($1,000,000) per occurrence and Two Million Dollars ($2,000,000) aggregate during the <br />term of this Agreement. Coverage must be afforded on a form no more restrictive than <br />the latest edition of the Comprehensive General Liability policy, without restrictive <br />endorsements, as filed by the Insurance Services Office, and must include: <br />• Premises and Ongoing Completed Operations — on a primary and non-contributory <br />basis including waiver of subrogation on behalf of the City of Sunny Isles Beach. <br />• Independent Contractors <br />• Broad Form Property Damage <br />• Broad Form Contractual Coverage applicable to this specific Contract, including <br />any hold <br />City of Sunny Isles Beach I Request for Qualifications No. 21-10-01 <br />