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(a) Two Hundred Thousand Dollars ($200,000) per claimant. <br /> <br />(b) Six Hundred Thousand Dollars ($600,000) per occurrence. <br /> <br />(C) Six Hundred Thousand Dollars ($600,000) annual aggregate. <br /> <br />(02) Automobile and truck public liability, personal injury, and property damage, <br />including owned and non-owned vehicles with a Five Hundred Thousand Dollars <br />($500,000) minimum limit. <br /> <br />(03) The City may require additional insurance be provided by Licensee if market <br />conditions change such that additional coverages become economically practicable. <br />The insurance limits required by this section shall be reduced if these insurance limits <br />are not reasonably and economically available. For the purposes of this subsection <br />"economically practicable: and reasonably and "economically available" shall be <br />determined by the insurance coverages affected by the Minnesota Joint Underwriters <br />Association or the readily available private insurance market. <br /> <br />12.) Bonding. <br /> <br />(01) The Licensee shall furnish a surety bond in the amount of Three Hundred <br />Thousand Dollars ($300,000) to run continuously (annual renewal allowed) until all <br />landfill operations and closure activities are completed to ensure compliance with the <br />terms and 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 in a form <br />acceptable to the City and its attorney. The bond shall be subject to cancellation by <br />the obligor by giving one hundred twenty (120) days' prior written notice to the City. <br />The Licensee shall renew each such bond no more than sixty (60) days after any such <br />written notice, and failure to so renew the bond shall be an event of default of the <br />obligations of the Licensee and shall constitute ground for immediate and automatic <br />revocation of this License. Said bond shall provide that if the Licensee refuses to <br />obey any of the requirements or to any of the acts required by this License or for any <br />reason ceases to operate or abandons the landfill, and the City is required to expend <br />monies or labor or material to restore, repair, or clean up the Landfill Site to the <br />condition and requirements required by law, the obligor shall reimburse the City for <br />any and all 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 from all <br />losses, costs, and charges that may occur to the City because of any default by the <br />Licensee. The bond may be in a form exercisable by both the City and the County <br />provided that such exercise feature allows its use on instruction by either or both the <br />City or County. <br /> <br />(02) In the event this, or any subsequent license is revoked or the Licensee closes <br />operation of the landfill for any reason, including but without limitation, order of the <br /> <br />vxB ~0o94o 14. <br /> <br /> <br />