8.2 SR 10-19-2020 - Laserfiche WebLink

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AGREEMENT damages, including all attorney’s fees incurred by CLIENT, arising out of the performance of this Agreement by CONTRACTOR or CONTRACTOR’s agent, employees, or subcontractors, except for gross negligence by CLIENT. This section shall not be construed to bar any legal remedies CONTRACTOR may have for CLIENT’s failure to fulfill its obligations pursuant to this Agreement. 15.0 Performance and Payment Bonds CONTRACTOR shall furnish performance and payment bonds (the “Bonds”), each in amounts equal to the Construction Cost. The Bonds shall cover completion of the physical work per the approved design and shall not cover any design obligation or any guarantee or warranty of efficiency or system performance. The Bonds shall not cover any obligation of the contractor to ensure that the Work as constructed will result in any particular level of energy savings. Any suit on the Bonds must be brought within the minimum period of limitation available to sureties as a defense in the jurisdiction of the suit. Payment Bond is intended for the use and benefit of all persons furnishing labor and materials who are engaged by CONTRACTOR. Performance Bond is intended for the use and benefit of the CLIENT to complete the Work as described in Exhibit A. These bonds shall be released within thirty (30) Working Days of the Completion Date. The surety for each such bond shall be an insurance company or corporate surety licensed to do business in the state of Minnesota. The bonds shall contain a provision requiring reasonable advance notice to CLIENT in the event that CONTRACTOR is in default of any obligation in relation to the bond. An example of the Payment and Performance Bond required by this Section is contained in Exhibit J, attached hereto and incorporated herein by reference. 16.0 Events of Default Default by CLIENT. Each of the following events or conditions shall constitute an “Event of Default” by CLIENT: A. Failure to make payments in accordance with this Agreement. B. Any other material failure to perform or comply with the terms and conditions of this Agreement, including breach of any covenant or duty contained herein, provided that such failure continues for thirty (30) Working Days after written notice to CLIENT demanding that such failure to perform be cured or, if cure cannot be effected in such thirty (30) Working Days, without commencement of a cure and diligent subsequent completion thereof. In the event the default is cured within said periods, this Agreement shall remain in full force and effect Default by CONTRACTOR: Each of the following events or conditions shall constitute an “Event of Default” by CONTRACTOR: A. The installation of the materials and equipment is not completed in a timely or satisfactory manner, according to the terms of this Agreement, provided however that CONTRACTOR shall have thirty (30) Working Days from receipt of written notice that it is in default to cure said default. In the event the default is cured; this Agreement shall remain in full force and effect. B. Any representation or warranty furnished by CONTRACTOR in this Agreement, which is false or misleading in any material respect when made. C. Any other material failure by CONTRACTOR to perform or comply with the terms and conditions of this Agreement, including breach of any covenant or duty contained herein, provided that such failure continues for thirty (30) Working Days after written notice to CONTRACTOR demanding that such failure AGREEMENT Page 10 of 15