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index. The City reserves the right to reject any price adjustments submitted by the vendor and /or to not exercise any otherwise available option period based on such price adjustments. Continuation of the contract beyond the initial period, and any option subsequently exercised, is a City prerogative, and not a right of the vendor. This prerogative will be exercised only when such continuation is clearly in the best interest of the City. Should the vendor decline the City's right to exercise the option period, the City may consider the vendor in default which decision may effect that vendor's eligibility for future contracts. NOTE: IF MULTIPLE VENDORS ARE INVOLVED UNDER THE GIVEN CONTRACT, ANY OPTIONS TO RENEW WILL BE RESTRICTED TO THE SPECIFIC ITEMS OF WORK INITIALLY AWARDED TO ANY SPECIFIC VENDOR. 2.5 Price If the vendor is awarded a contract under this solicitation, the prices proposed by the vendor shall remain fixed and firm during the term of contract. 2.6 Performance Bond The City of Sunny Isles Beach shall require the successful Proposers to furnish a Performance Bond in the amount of 100% of the total Proposal Price, with the City of Sunny Isles Beach as the Obligee, as security for the faithful performance of the Contract and for the payment of all persons performing labor or furnishing materials in connection herewith within ten (10) calendar days after notification of the award by the City. The bonds shall be with a surety company authorized to do business in the State of Florida. 2.7 Delivery All items shall be delivered f.o.b. destination (i.e. at a specific City of Sunny Isles Beach address), and delivery costs and charges (if any) will be included in the Proposal Price. Exceptions shall be noted. When practical, the City may make pick -ups at the vendor's place of business when specifically approved by the City. 2.8 Indemnification Comprehensive General Liability with minimum limits of Two Million Dollars ($2,000,000.00) per occurrence combined single limit for Bodily Injury Liability and Property Damage Liability. Coverage must be afforded on a form no more restrictive than the latest edition of the Comprehensive General Liability policy, without restrictive endorsements, as filed by the Insurance Services Office, and must include: • Premises and Operation • Independent Contractors • Products and /or Completed Operations Hazard • Broad Form Property Damaged • Broad Form Contractual Coverage applicable to this specific Contract, including any hold harmless and /or indemnification agreement. • Personal Injury Coverage with Employee and Contractual Exclusions removed, with minimum limits of coverage equal to those required for Bodily Injury Liability and Property Damage Liability. PAGE 18 OF 105 PROPOSAL NO.