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<br />City of Sunny Isles Beach |Request for Qualifications No. 18-08-01 10 <br /> <br />and that City funding is available as appropriated on an annual basis. However, in the event funding <br />is not appropriated on an annual basis during any particular year within the contract period, the <br />contract may be canceled upon thirty (30) days written notice to Firm. In such an event, the City <br />shall only be responsible for the reasonable value of services performed prior to the effective date <br />of termination. <br /> <br />2.4 OPTIONS TO RENEW <br /> <br />The initial contract term shall be for four (4) years. The City, at its sole option, may renew the <br />contract for one (1) one-year renewal term. Exercising the option to renew is at the sole discretion <br />of the City. <br /> <br />2.5 METHOD OF AWARD <br /> <br />Reference Section 4 <br /> <br />2.6 PERFORMANCE BOND <br /> <br />Intentionally Omitted <br /> <br />2.7 PAYMENT BOND <br /> <br />Intentionally Omitted <br /> <br />2.8 BID BOND <br /> <br />Intentionally Omitted <br /> <br />2.9 DELIVERY <br /> <br />Intentionally Omitted <br /> <br />2.10 INSURANCE <br /> <br />Upon City’s notification, the Firm shall furnish to the City Manager or his designee, <br />Certificates of Insurance that indicate that insurance coverage has been obtained, which meet the <br />requirements as outlined below: <br /> <br />2.10.1 Comprehensive General Liability Insurance <br /> <br />Contractor shall be required to purchase, maintain, and keep in full force, effect, and good <br />standing, Comprehensive General Liability with primary limits of One Million Dollars <br />($1,000,000) per occurrence and Two Million Dollars ($2,000,000) aggregate during the <br />initial and any renewal term of this Agreement. Coverage must be afforded on a form no <br />more restrictive than the latest edition of the Comprehensive General Liability policy,