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  <br />City of Sunny Isles Beach | Invitation to Bid No. 17‐05‐01  20    <br />  <br />2.8 PRICE <br /> <br />Unit prices shall remain fixed and firm through the term of the contract. <br /> <br />2.9 PERFORMANCE AND PAYMENT BOND <br /> <br />The City of Sunny Isles Beach shall require the successful Bidder to furnish a Performance and <br />Payment Bond in the amount of 100% of the total Basic Services “recurring monthly” (The subtotal <br />of lines 1-76 of the bid form) of the extended total, with the City of Sunny Isles Beach as the <br />Obligee, as security for the faithful performance of the Contract and for the payment of all persons <br />performing labor or furnishing materials in connection herewith within ten (10) calendar days after <br />notification of the award by the City. The bonds shall be with a surety company authorized to do <br />business in the State of Florida. The Bond(s) shall not contain a provision allowing the Surety(ies) <br />to cancel the Bonds prior to the completion of the Contract, including any optional renewal periods. <br /> <br /> <br />2.10 BID BOND <br /> <br />The City of Sunny Isles Beach shall require that every Bidder furnish a Bid Bond in the amount of <br />5% of the total Basic Services “recurring monthly” (The subtotal of lines 1-76 of the bid form) of <br />the extended total. <br /> <br />2.11 INSURANCE <br /> <br /> Comprehensive General Liability with minimum limits of Five Million Dollars ($5,000,000.00) per <br />occurrence combined single limit for Bodily Injury Liability and Property Damage Liability. Coverage <br />must be afforded on a form no more restrictive than the latest edition of the Comprehensive <br />General Liability policy, without restrictive endorsements, as filed by the Insurance Services Office, <br />and must include: <br /> <br /> Premises and Operation <br /> Workers Compensation (Statutory Limits) <br /> Independent Contractors <br /> Products and/or Completed Operations Hazard <br /> Broad Form Property Damages <br /> Broad Form Contractual Coverage applicable to this specific Contract, including any hold <br /> Harmless and/or indemnification agreement. <br /> Personal Injury Coverage with Employee and Contractual Exclusions removed, with <br />minimum limits of coverage equal to those required for Bodily Injury Liability and Property <br />Damage Liability. <br /> <br /> Business Automobile Liability with minimum limits of One Million Dollars ($1,000,000.00) per <br />occurrence combined single limit for Bodily Injury Liability and Property Damage Liability. Coverage <br />must be afforded on a form no more restrictive than the latest edition of the Business Automobile