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<br />certificates issued. All insurance policies must be issued by companies that are authorized to do business in the
<br />State of Florida, and have a rating of B+VI or better in the current edition of Best's Key Rating Guide.
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<br />The policies of insurance referred to above shall not be subject to cancellation or changing coverage except
<br />upon at least thirty (30) days prior written notice to the CITY, and then only subject to the prior written
<br />approval of the Contract Administrator. Prior to the Commencement Date of this Agreement, ARTIST shall
<br />provide Contract Administrator wi~h a Certificate of Insurance for each such policy, ALL POLICIES SHALL
<br />NAME THE CITY OF SUNNY ISLES BEACH, FLORIDA AS AN ADDITIONAL NAMED INSURED. All
<br />such policies shall be obtained from companies authorized to do business in the State of Florida with an A.M.
<br />Best's Insurance Guide (latest edition) rating acceptable to the City's Risk Manager, and any replacement or
<br />substitute company shall also be subject to the approval of the City's Risk Manager. Should ARTIST fail to
<br />obtain, maintain or renew the policies of insurance referred to above, in the required amounts, the CITY may, at
<br />its sole discretion, obtain such insurance, and any sums expended by CITY in obtaining said insurance, shall be
<br />repaid by ARTIST to CITY, plus ten percent (10%) of the amount of prem iums paid to compensate CITY for
<br />its administrative costs, If ARTIST fails to repay CITY's expenditures within fifteen (15) days of demand, the
<br />total sum owed shall accrue interest at the rate of twelve percent (12%) until paid, and such failure shall be
<br />deemed an event of default hereunder,
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<br />Notwithstanding the insurance requirements in this subsection 10.19, ARTIST shall be solely responsible
<br />for the safe keeping and preservation of any and all Work, and of the Project, and shall be solely
<br />responsible and liable for any risk ofloss or damage to any and all Work, and/or to the Project, up to the
<br />CITY's final written acceptance of the Project. In the event that all or any portion of the Work, or the
<br />Project, is lost, stolen, damaged, or destroyed (whether in whole or in part) prior to the CITY's final
<br />written acceptance of the Project, ARTIST shall be solely responsible for undertaking such corrective
<br />measures as shall be deemed reasonably necessary by the CITY, to repair, replace, redo, and/or restore
<br />any and all lost, stolen, damaged, and/or destroyed (as the case may be) portions of the Work, or of the
<br />Project, and such measures shall be undertaken in accordance with means and methods, as well as a
<br />completion schedule, as shall be approved by the Contract Administrator, such approval not to be
<br />unreasonable withheld, Further, such measures shall be undertaken at ARTIST's sole cost and expense,
<br />at no additional cost, and/or liability to the CITY.
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<br />10,20 INDEMNIFICA TION
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<br />ARTIST agrees to indemnifY and hold harmless the CITY OF SUNNY ISLES BEACH and its officers, employees
<br />and agents, from and against any and all actions, claims, liabilities, losses, and expenses, including, but not limited
<br />to, attorneys' fees, for personal, economic or bodily injury, wrongful death, loss of or damage to property, at law or
<br />in equity, which may arise or be alleged to have arisen from the negligent acts, errors, omissions or other negligent
<br />conduct of the ARTIST, its employees, agents, sub-consultants, or any other person or entity acting under
<br />ARTIST's control, in connection with the ARTIST's perfonnance of the Work pursuant to this Agreement; and to
<br />that extent, the ARTIST shall pay all such claims and losses and shall pay all such costs and judgments which may
<br />issue from any lawsuit arising from such claims and losses, and shall pay all costs and attorneys' fees expended by
<br />the CITY in the defense of such claims and losses, including appeals, The parties agree that one percent (I %) of the
<br />total compensation to the ARTIST for perfonnance of the Work under this Agreement is the specific consideration
<br />from the CITY to the ARTIST for the ARTIST's Indemnity Agreement.
<br />
<br />The ARTIST's obligation under this Subsection shall not include the obligation to indemnifY the CITY OF SUNNY
<br />ISLES BEACH and its officers, employees and agents, from and against any actions or claims which arise or are
<br />alleged to have arisen from negligent acts or omissions or other negligent conduct of the CITY and its officers,
<br />employees and agents. The parties each agree to give the other party prompt notice of any claim coming to its
<br />knowledge that in any way directly or indirectly affects the other party.
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