Reso 2024-3732 - Laserfiche WebLink

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herein, or receives notice that coverage no longer complies with the insurance requirements herein, Contractor agrees to notify the City by fax or email within five (5) business days with a copy of the non -renewal or cancellation notice, or written specifics as to which coverage is no longer in compliance. The Certificate Holder(s) address shall read: Original to: City of Sunny Isles Beach Risk Management Division Attn: Risk Manager 18070 Collins Avenue Sunny Isles Beach, FL 33160 YLondono@sibfl.net 13.11. Other Terms. City shall have the right, but not the obligation, of prohibiting Contractor from entering the Project site until a new Certificate of Insurance is provided to the City evidencing the replacement coverage. The Contractor agrees the City reserves the right to withhold payment to Contractor until evidence of reinstated or replacement coverage is provided to the City. If the Contractor fails to maintain the insurance as set forth herein, the Contractor agrees the City shall have the right, but not the obligation, to purchase replacemehtunsurance, which the Contractor agrees to reimburse any premiums or expenses incurred by the City. ARTICLE XIV MISCELLANEOUS 14.1 Governing Law/Jurisdiction/Venue 14.1.1. The Contract shall be governed by the laws of the State of Florida. Except as set forth in Article 7, should the parties be involved in legal action arising under, or connected to, this Contract, each party will be responsible for its own attorneys' fees and costs. The venue for any litigation will be Miami -Dade County, Florida. 14.2 Successors and Assigns 14.2.1. The City and Contractor bind themselves, their successors, assigns and legal representatives to the other party hereto and to successors, assigns and legal representatives of such other party in respect to covenants, agreements and obligations contained in this Contract. The Contractor shall not assign this Contract without written consent of the City. As a condition to any assignment, the assignee shall agree in writing to comply with and be bound by all of the terms, covenants, conditions, provisions and agreements in this Contract. 14.3 Public Construction Bond 14.3.1. The Contractor shall furnish a Public Construction Bond to the City, as an Obligee, in an amount not less than one hundred percent (100%) of the Contract Price. The bond furnished by the Contractor shall incorporate by reference the terms of the Contract as fully as though they were set forth verbatim in such bonds. In the event the Price is adjusted by Change Order executed by the Contractor, the penal sum of the bond shall be deemed increased by like amount. The bond furnished by the Contractor shall be in form required by the City and in conformity with Section 255.05, Florida Statutes, shall be recorded in the Public Records of Miami -Dade County before construction commences, and shall be executed by a surety, or sureties, reasonably suitable to the MBR CONSTRUCTION, INC. Page 31 of 41 180