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<br />E. Performance of Agreement <br /> <br />. <br /> <br />1. <br /> <br />The Contractor shall keep complete and accurate <br />records in accordance with generally accepted <br />accounting practices. <br /> <br />2. Payment and Collection for Services <br /> <br />(a) The City shall bill and collect monies due <br />from residents for base collection service. <br /> <br />(b) The Contractor shall be responsible for the <br />billing of additional collection services to <br />the dwelling unit. <br /> <br />3. The Contractor shall supply all labor, material, <br />and equipment necessary for the carrying out of <br />the Agreement. <br /> <br />4. <br /> <br />Insurance <br /> <br />. <br /> <br />During the entire period of the Agreement, the <br />Contractor shall maintain, at its cost and <br />expense, and file with the City, policies or <br />certificates of Workers' Compensation and <br />Liability Insurance. Minimum insurance policy <br />coverage requirements are $500,000 bodily injury <br />per person, $1,000,000 aggregate per occurrence, <br />and $50,000 property damage. All policies <br />evidencing insurance required by this paragraph <br />shall name the City and the Contractor as named <br />insureds, and shall insure the City and the <br />Contractor by reasons of any act or omission, <br />including negligence, of the Contractor or of the <br />Contractor's employees or agents in connection <br />with the performance of this Agreement, including <br />claims arising out of the use of or operation of <br />any vehicles used by the Contractor or the <br />Contractor's employees or agents in performing <br />this Agreement. Such policies shall be in form <br />and content satisfactory to the City Attorney and <br />shall be filed with the City Clerk. A <br />certificate showing that the Contractor has in <br />effect the aforesaid insurance covering both the <br />Contractor and the City shall be filed with the <br />City Clerk within 10 days from the execution of <br />the Agreement, and yearly thereafter, at least 30 <br />days prior to the date of the expiration of said <br />policies of insurance for each year of the <br />Agreement. All of the foregoing policies shall <br />be issued by an insurance company or companies <br />licensed to do business in the State of Minnesota <br />and authorized to assume the risks covered <br />thereby. Memorandum policies and receipts for <br /> <br />. <br /> <br />12. <br />