6.6 - Laserfiche WebLink

Home Browse Search

• 11.) Insurance. The Licensee shall secure and maintain insurance from an insurance company acceptable to the City and authorized to write casualty insurance in the State of Minnesota which will protect the Licensee, its agents and employees, and the City from claims for bodily injury, death, or property damage which may arise from the operations on the Landfill Site. The Licensee shall file a certificate of insurance or a certified copy of the insurance policy with the City. Such insurance policy shall contain a clause providing that it shall not be cancelled by the insurance company without thirty (30) days' written notice to the City of intention to cancel. The following coverages shall be provided in amounts not less than those specified: (01) Public liability, general liability, loading and unloading, [completed operations, explosion, collapse, underground operations], personal injury, and property damage with the following minimum limits: (a) Two Hundred Thousand Dollars ($200,000) per claimant. (b) Six Hundred Thousand Dollars ($600,000) per occurrence. (c) Six Hundred Thousand Dollars ($600,000) annual aggregate. (02) Automobile and truck public liability, personal injury, and property damage, including owned and non-owned vehicles with a Five Hundred Thousand Dollars • ($500,000) minimum limit. (03) The City may require additional insurance be provided by Licensee if market conditions change such that additional coverages become economically practicable. The insurance limits required by this section shall be reduced if these insurance limits are not reasonably and economically available. For the purposes of this subsection "economically practicable: and reasonably and "economically available" shall be determined by the insurance coverages affected by the Minnesota Joint Underwriters Association or the readily available private insurance market. 12.) Bonding. (01) The Licensee shall furnish a surety bond in the amount of Three Hundred Thousand Dollars ($300,000) to run continuously (annual renewal allowed) until all landfill operations and closure activities are completed to ensure compliance with the terms and conditions of this License. Such bond shall be made by an insurance company or other financial institution acceptable to the City and shall be in a form acceptable to the City and its attorney. The bond shall be subject to cancellation by the obligor by giving one hundred twenty (120) days' prior written notice to the City. The Licensee shall renew each such bond no more than sixty (60) days after any such written notice, and failure to so renew the bond shall be an event of default of the obligations of the Licensee and shall constitute ground for immediate and automatic • PXB 100940 14.