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<br />insurance required by this document and by the Contract are in the City's possession. <br />These certificates shall contain a provision that the coverage afforded under the policies <br />will not be canceled or materially changed until at least thirty (30) days prior written <br />notice has been given to the City by certified mail. The City shall be named as an <br />additional insured on the above-referenced policies. <br /> <br />The vendor agrees that if any part of the Work under the Contract is sublet, they will <br />require the Sub-vendor(s) to carry insurance as required, and that they will require the <br />Sub- vendor(s) to furnish to them insurance certificates similar to those required by the <br />City in this section. <br /> <br />2.9.1 Cancellation and Re-Insurance: <br /> <br />If any insurance should be canceled or changed by the insurance company or should any <br />insurance expire during the period of this contract, the Contractor shall be responsible for <br />securing other acceptable insurance to provide the coverage specified in this section to <br />maintain coverage during the life of this Contract. All deductibles must be declared by <br />the Contractor and must be approved by the City. At the option of the City, either the <br />Contractor shall eliminate or reduce such deductible or the Contractor shall procure a <br />Bond, in a form satisfactory to the City, covering the same. <br /> <br />2.10 MONTHLY INVOICES PAYMENTS <br /> <br />Cut-off date is the close of the last business day of the month. Vendor shall submit by the 10th <br />day of the following month vendor's completed Statement of Services/Invoice. Should the 10th <br />fall on a weekend or holiday, Contractor shall submit his application on the next workday. <br /> <br />Vendor is advised that processing of invoices must follow this schedule, as the City has funding <br />requirements and other payment obligations which may prevent payment of late Statement of <br />Services for that month's billing cycle. A late Statement of Services with a recommendation for <br />payment will be paid in the next month's billing cycle. <br /> <br />END OF SECTION <br /> <br />PAGE 18 OF 31 <br />BID No. 11-02-02 <br />