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12.3 If the agreement is terminated for cause, respondent will be removed from the City's qualifier list. 12.4 The City Commission shall have the right to terminate the agreement in the event the respondent files any petition or proceeding for bankruptcy relief or is adjudicated to be bankrupt or insolvent or fails to pay just debts as they ordinarily become due. 12.5 This agreement may not be terminated by the respondent unless otherwise provided in the contract. 13. Insurance Requirements. 13.1 General. The respondent, including service - related respondents, shall purchase and maintain for the entire life of the Project, including any and all approved time extensions, until three (3) years after final acceptance by the City of any completed project (which is in receipt of an issued Certificate of Occupancy,) such insurance as will protect the respondent from claims under professional liability, Workers' Compensation, disability benefit laws or other similar employee benefit laws; from claims for damages because of bodily injury, occupational sickness or disease, or death of respondent employees; from claims insured by usual or unusual injury liability coverage; from claims or injury to or destruction of tangible property and from claims insured by usual Commercial General Liability coverage. The successful respondent shall provide copies of a Certificate of Renewal of insurance for each year of the contract and for three (3) years following final acceptance of the project as set forth above. This includes loss of use resulting therefrom, any or all of which may arise out of the respondent's operations under the Contract Documents, whether such operations be by the respondent, or any sub contractor, or by anyone directly or indirectly employed by any of them or for whose acts any of them may be legally liable. The respondent's deductibles /self- insured retentions shall be disclosed to the City and may be disapproved by the City and may be reduced or eliminated at the sole discretion of the City. The respondent is responsible for the amount of any deductible or self - insured retention. Respondent must carry a minimum of Three Million Dollars ($3,000,000) of Professional Liability Insurance. 13.2 Requirements for Certificates of Insurance. Respondent shall provide the City with all required Certificates of Insurance which Certificates must be acceptable to the City. Each Certificate of Insurance shall be provided to the City at least 15 days prior to coverage renewals requested by the City. The respondent shall furnish complete copies of respondent's insurance policies, forms and endorsements. If the respondent fails to obtain and maintain for the life of the contract insurance required herby or to replace any such expired or cancelled policies, the City may obtain and maintain such insurance with such company as it deems satisfactory with those amounts expended by the City in payment of premiums to be deducted by the City from the amounts due the respondent for work covered by the contract. Page 7 of 10 RFQ For Construction Management Services 12118101 1 1:00 AM