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securing other acceptable insurance to provide the coverage specified in this section to maintain coverage during the life of this Contract. All deductibles must be declared by the Contractor and must be approved by the City. At the option of the City, either the Contractor shall eliminate or reduce such deductible or the Contractor shall procure a Bond, in a form satisfactory to the City, covering the same. 2.10 MONTHLY INVOICES PAYMENTS Cut-off date is the close of the last business day of the month. Contractor shall submit by the 10th day of the following month vendor's completed Statement of Services/Invoice. Should the 10th fall on a weekend or holiday, Contractor shall submit his application on the next workday. Contractor is advised that processing of invoices must follow this schedule, as the Contractor has funding requirements and other payment obligations which may prevent payment of late Statement of Services for that month's billing cycle. A late Statement of Services with a recommendation for payment will be paid in the next month's billing cycle. 2.11 FEDERAL AND STATE REGULATIONS The successful Proposer shall comply with all federal, state and local rules and regulations apply to operating a similar type of business. Special attention must be paid to the regulations outlined by the State of Florida, Department of Professional and Business Regulation, Division of Hotels and Restaurants. 2.12 SITE EXAMINATION The Bidder is advised to examine the locations of the work and to inform themselves fully as to its conditions; the conformation of the ground; the character, quality and quantity of the products needed preliminary to and during the prosecution of the work; the general and local conditions and all other matters which can in any way affect the work to be done under the Contract. Failure to examine the site will not relieve the successful bidder of his obligation to furnish all products and labor necessary to carry out the provisions of his con-tract. The Bidder shall notify the Owner of the date and time he proposes to examine the location of the work. The Bidder shall confine his examination to the specific areas designated for the proposed construction, including easements and public rights of way. The Bidder is solely responsible for any damages caused by his examination of the site. 2.13 MATERIAL. EOUIPMENT AND WORKMANSHIP Unless otherwise specifically stated in the contract documents, the Contractor shall provide and pay for material, labor, tools, equipment, water, light, power, transportation, supervision, and temporary construction of any nature, and other services and facilities of any nature, whatsoever necessary, to execute, complete and deliver the work within the specified time. Material and equipment shall be new, free of defects and of the quality specified. Equipment offered shall be current modifications which have been in successful regular operation under City of Sunny Isles Beach I Request for Proposal No. 12-01-04