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<br /> 5 . Auctioneer ' s Compensation . For the services set forth herein County agrees that Auctioneer
<br /> shall receive a 10 % buyer ' s premium . Specifically, bidders shall be informed that the terms
<br /> of each auction sale shall include payment by the successful bidder of a premium of 10 % of
<br /> the amount of the successful bid , in addition to the amount of the bid itself. Such additional
<br /> 10 % premium shall be known as the buyer ' s premium , and shall be paid to Auctioneer as
<br /> compensation for services set forth herein .
<br /> 6 . Terms of Sale . All sales shall be made on an "as is — where is " basis , without express
<br /> or
<br /> implied warranties . Buyers shall make payment in full , including payment of the buyer ' s
<br /> premium , and shall remove all purchased items ( unless other arrangements acceptable to
<br /> County are made) , all on the day of the auction .
<br /> 7 . Auctioneer ' s Licenses and Certificates . Auctioneer represents that it has at the time of
<br /> execution of this agreement, and will have at all times during the tern of this agreement, all
<br /> professional and business licenses and certificates required for the performance of auction
<br /> services in the state of Florida .
<br /> 8 . Insurance . Auctioneer shall procure, pay for, and maintain at least the following insurance
<br /> coverages and limits . Said insurance shall be evidenced by delivery to the County of (i)
<br /> certificates of insurance executed by the insurers listing coverages and limits , expiration
<br /> dates , terms of policies and all endorsements , whether or not required by the County, and
<br /> listing all carriers issuing said policies ; and (ii) upon request, a certified copy of eachpolicy,
<br /> including all endorsements . The following insurance requirements shall remain in effect
<br /> throughout the tern of this agreement .
<br /> a . Workers ' Compensation in at least the limits as required by law , and Employers '
<br /> Liability Insurance of not less than $ 1. 00 , 000 . 00 for each accident .
<br /> b . Commercial General Liability Insurance including, but not limited to , Independent
<br /> Contractor, Contractual , Premises/Operations , Products/Completed Operation and
<br /> Personal Injury covering liability assumed under the indemnification provisions of this
<br /> agreement, with limits of liability for personal injury and /or bodily injury, including
<br /> death , of not less than $ 1 , 000, 000 . 00 , each occurrence ; and property damage of not less
<br /> than $ 1 , 000, 000 . 00 , each occurrence . (combined single Limits of not less than
<br /> $ 1 , 000 , 000 . 00 , each occurrence , will be acceptable unless otherwise stated) . Coverage
<br /> shall be on an "occurrence" basis , and the policy shall include Broad Form Property
<br /> Damage coverage and Fire Legal Lability of not less than $ 50 , 000 . 00 per occurrence,
<br /> c . Commercial Automobile and Truck liability covering owned, hired , and non- owned
<br /> vehicles with combined single limits of not less than $ 1 , 000 , 000 . 00 , each occurrence .
<br /> Coverage shall be on an "occurrence" basis , such insurance to include coverage for
<br /> loading and unloading hazards .
<br /> d . Professional Liability Insurance (including Errors and Omissions) with minimum limits
<br /> of $ 500 , 000 . 00 per occurrence, if occurrence form is available ; or claims made form
<br /> with "tail coverage " extending three (3 ) years beyond completion and acceptance of the
<br /> project with proof of "tail coverage " to be submitted to County. In lieu of "tail
<br /> coverage, " Auctioneer may submit annually to County a current Certificate of Insurance
<br /> proving claims made insurance remains in force throughout the same three (3) year
<br /> period .
<br /> e . Each policy shall require that thirty (30) days prior to expiration , cancellation,
<br /> nonrenewal , or any material change in coverage or limits , a notice thereof shall be given
<br /> to County by certified mail to : Indian River County, Purchasing Division, 1800 27 `x'
<br /> Street, Vero Beach, FL 32960 . Auctioneer shall also notify County, in a like manner,
<br /> within twenty- four (24) hours after receipt , of any notices of expiration, cancellation,
<br />
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