Reso 2007-1084 - Laserfiche WebLink

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City of SUI/I/Y Isles Bellcl1- - -18070 Collins Avenue, Sunny Isles Beach,-Florida 33160 (305) 947-0606 phone (305) 949-31 13 Fax 10.20 INSURANCE ARTIST shall maintain, at its sole cost and expense, the following types of insurance coverage at all times throughout the term of this Agreement or until final acceptance of the Project by the Contract Administrator, whichever is later, only if ARTIST exercises the option provided for in section 7.3: a. Comprehensive General Liability in the mllllmum amount of Three Hundred Thousand ($300,000) dollars per occurrence bodily injury, death, property damage, and personal injury. This policy must also contain coverage for premises operations, products and contractual liability. b. Contractors must submit proof of Workers' Compensation and Employer's Liability in the form of a Certificate of Insurance. All other State regulations apply. c. Automobile insurance is required in the amount of Three Hundred Thousand ($300,000) dollars if ARTIST will be parking vehicles on public property, which is not a designated public parking space, to unload materials/supplies. The CITY of Sunny Isles Beach must be namcd as an additional insured and policyholder on all insurance certificates issued. All insurance policies must be issued by companies that arc authorized to do business in the State of Florida, and have a rating ofB+VI or better in the current edition of Best's Key Rating Guide. The policies of insurance referred to above shall not be subject to cancellation or changing coverage except upon at least thirty (30) days prior written notice to the ClTY, and then only subject to the prior written approval of the Contract Administrator. Prior to the Commencement Date of this Agreement, ARTIST shall provide Contract Administrator with a Certificate ofInsurance for each such policy. ALL POLICIES SHALL NAME THE CITY OF SUNNY ISLES BEACH, rLORIDA AS AN ADDITIONAL NAMED INSURED. All such policies shall be obtained from companies authorized to do business in the State of Florida with an A.M. Best's Insurance Guide (latest edition) rating acceptable to the CITY'S Risk Manager, and any replacement or substitute company shall also be subject to the approval of the CITY'S Risk Manager. Should ARTIST fail to obtain, maintain or renew the policies of insurance referred to above, in the required amounts, the CITY may, at its sole discretion, obtain such insurance, and any SlllllS expended by CITY in obtaining said insurance, shall be repaid by ARTIST to CITY. plus ten percent (10%) of the amount of premiums paid to compensate CITY for its administrative costs. If ARTIST fails to repay CITY'S expenditures within fifteen (15) days of demand, the total sum owed shall accrue interest at the rate of twelve percent (12%) until paid, and such failure shall be deemed an 16 C0607-044 Butterfly Artist Agreement ") N r ~ J I .