Laserfiche WebLink
(b)One Million Dollars ($1,000,000)per occurrence. <br />(c)One Million Dollars ($1,000,000)annual aggregate. <br />(02)Automobile and truck public liability, personal injury, and property <br />damage, including owned and non-owned vehicles with a One Million <br />Dollars ($1,000,000) minimum limit. <br />(03)The City may require additional insurance be provided by Licensee <br />if market conditions change such that additional coverage become <br />economically practicable. The insurance limits required by this section <br />shall be reduced if these insurance limits are not reasonably and <br />economically available. For the purposes of this subsection “economically <br />practicable,” “reasonably” and “economically available” shall be <br />determined by the insurance coverage affected by the Minnesota Joint <br />Underwriters Association or the readily available private insurance <br />market. <br />17.)Bonding. <br />(01)The Licensee shall furnish a surety bond in favor of the Cityin the <br />amount of Three Hundred Thousand Dollars ($300,000) to run <br />continuously (annual renewal allowed) until all landfill operations and <br />closure activities are completed to ensure compliance with the terms and <br />conditions of this License. Such bond shall be made by an insurance <br />company or other financial institution acceptable to the City and shall be <br />in a form acceptable to the City and its attorney. The bond shall be subject <br />to cancellation by the obligor by giving one hundred twenty (120) days’ <br />prior written notice to the City. The Licensee shall renew each such bond <br />no more than sixty (60) days after any such written notice, and failureto <br />so renew the bond shall be an event of default of the obligations of the <br />Licensee and shall constitute ground for immediate and automatic <br />revocation of this License. Said bond shall provide that if the Licensee <br />refuses to obey any of the requirements or to any of the acts required by <br />this License or for any reason ceases to operate or abandons the landfill, <br />and the City is required to expend monies or labor or material to restore, <br />repair, or clean up the Landfill Site to the condition and requirements <br />required by law, the obligor shall reimburse the City for any and all <br />expenses incurred to remedy the failure of the Licensee to comply with <br />this License, and the obligor shall indemnify and save the City harmless <br />from all losses, costs, and charges that may occur to the City because of <br />any default by the Licensee. The bond may be in a form exercisable by <br />both the City and the County provided that such exercise feature allows its <br />use on instruction by either or both the City and County. <br />19 <br /> <br />