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the successful bid, in addition to the amount of the bid itself. Such additional 10% premium shall
<br /> be known as the buyer's premium, and shall be paid to Auctioneer as compensation for services set
<br /> forth herein.
<br /> 6. Terms of Sale. All sales shall be made on an "as is — where is" basis, without express or implied
<br /> warranties. Buyers shall make payment in full, including payment of the buyer's premium, and
<br /> shall remove all purchased items on the day of the auction, unless other arrangements acceptable to
<br /> County are made.
<br /> 7. Auctioneer's Licenses and Certificates. Auctioneer represents that it has at the time of execution
<br /> of this agreement, and will have at all times during the term of this agreement, all professional and
<br /> business licenses and certificates required for the performance of auction services in the state of
<br /> 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) certificates
<br /> of insurance executed by the insurers listing coverages and limits, expiration dates, terms of
<br /> policies and all endorsements, whether or not required by the County, and listing all carriers issuing
<br /> said policies; and (ii) upon request, a certified copy of each policy, including all endorsements. The
<br /> following insurance requirements shall remain in effect throughout the term of this agreement.
<br /> a. Workers' Compensation in at least the limits as required by law, and Employers' Liability
<br /> Insurance of not less than $100,000.00 for each accident.
<br /> b. Commercial General Liability Insurance including, but not limited to, Independent
<br /> Contractor, Contractual, Premises/Operations, Products/Completed Operation and Personal
<br /> Injury covering liability assumed under the indemnification provisions of this agreement, with
<br /> limits of liability for personal injury and/or bodily injury, including death, of not less than
<br /> $1,000,000.00, each occurrence; and property damage of not less than $1,000,000.00, each
<br /> occurrence. (combined single limits of not less than $1,000,000.00, each occurrence, will be
<br /> acceptable unless otherwise stated). Coverage shall be on an "occurrence" basis, and the
<br /> policy shall include Broad Form Property Damage coverage and Fire Legal Liability of not
<br /> less than $50,000.00 per occurrence,
<br /> C. Commercial Automobile and Truck liability covering owned, hired, and non-owned vehicles
<br /> with combined single limits of not less than $1,000,000.00, each occurrence. Coverage shall
<br /> be on an "occurrence" basis, such insurance to include coverage for loading and unloading
<br /> hazards.
<br /> d. Professional Liability Insurance (including Errors and Omissions) with minimum limits of
<br /> $500,000.00 per occurrence, if occurrence form is available; or claims made form with "tail
<br /> coverage" extending three (3) years beyond completion and acceptance of the project with
<br /> proof of"tail coverage"to be submitted to County. In lieu of"tail coverage," Auctioneer may
<br /> submit annually to County a current Certificate of Insurance proving claims made insurance
<br /> remains in force throughout the same three (3) year period.
<br /> e. Each policy shall require that thirty (30) days prior to expiration, cancellation, nonrenewal, or
<br /> any material change in coverage or limits, a notice thereof shall be given to: Indian River
<br /> County, Purchasing Division, 1800 27h Street, Vero Beach, FL 32960. Auctioneer shall also
<br /> notify County, in a like manner, within twenty-four (24) hours after receipt, of any notices of
<br /> expiration, cancellation, nonrenewal, or material change in coverage received by Auctioneer
<br /> from its insurer; and nothing contained herein shall absolve contractor of this requirement to
<br /> provide notice.
<br /> L Companies issuing the insurance policy, or policies, shall have no recourse against County for
<br /> payment of premiums or assessments for any deductibles which all are at the sole
<br /> responsibility and risk of contractor.
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