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(4) The Surety Company shall have at least twice the minimum surplus and capital required by the Florida Insurance Code at the time the invitation to Proposal is issued. (5) The Surety Company shall have at least the ratings of A -Class V in the latest issue of Best's Key Rating Guide. (6) The Surety Company shall not expose itself to any loss on any one risk in an amount exceeding ten (10) percent of its surplus to policyholders, provided: (a) Any risk or portion of any risk being reinsured shall be deducted in determining the limitation of the risk as prescribed in this section. These minimum requirements shall apply to the reinsuring carrier providing authorization or approval by the State of Florida, Department of Insurance to do business in this state have been met. (b) In the case of the surety insurance company, in addition to the deduction for reinsurance, the amount assumed by any co -surety, the value of any security deposited, pledged or held subject to the consent of the surety and for the protection of the surety shall be deducted. GC 47 INSURANCE. 1. The Contractor shall maintain and pay for such insurance, issued in the name of the Owner and naming the Owner as an Additional Insured, with such coverages as will protect the Owner from contingent liability under the Contract, as set forth in the Special Conditions 2, Coverages. See Special Conditions, 3. The Certificate of Insurance and policy endorsements or riders shall name the County as "ADDITIONAL INSURED" with respect to all Liability coverages. Contractor shall provide evidence of continued coverage in the event of renewal or policy termination. Owner may withhold payment to Contractor until evidence of insurance coverage is received. 4.. These insurance requirements shall not in any manner limit or qualify the liabilities and obligations assumed by Contractor under the Contract. 5. The Contractor shall be entirely responsible for securing Certificates of Insurance coverage as set forth above from all subcontractors who are engaged in the work. GC 48 INDEMNITY. Contractor agrees to protect, defend, reimburse, indemnify and hold the Owner, its agents, employees and elected officers and each of them (collectively), free and harmless at all times from and against any and all claims, liability, expenses, losses, suits, costs, fines and damages, including attorney fees and costs, and causes of action of every kind and character against the Owner by reason of any damage to property or the environment, or bodily injury (including death) incurred or sustained by any party hereto, or of any party acquiring any interest hereunder, and any third or other party whomsoever, or any governmental agency, arising out of or incident to or in connection with Contractor's performance under this Contract, Contractor's acts, omissions or operations hereunder, the site conditions, or the performance, non-performance or purported performances of the Contractor or any breach of the terms of this Contract; to the extent caused by the negligence, recklessness, or intentional wrongful misconduct of Contractor and persons or entities employed or utilized by Contractor in its performance. (§725.06 F.S.) GC 49 DISPUTE RESOLUTION. Final Completion. Notwithstanding any other provision, the parties agree that any unresolved dispute regarding the punch list or any other requirement for Final Completion shall be mediated with the Engineer as the mediator. 44 F:\Engineering\Capital Projects\0604-12th St Sidewalk Improve between 43rd Ave & 27th Ave\0604 Federal Contract Provisions.doc a2g=83:20:34 PM