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2016-006A
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2016-006A
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Last modified
12/9/2016 3:15:10 PM
Creation date
12/5/2016 9:56:12 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
01/19/2016
Control Number
2016-006A
Agenda Item Number
8.D.
Entity Name
FirstSouthwest Division of Hilltop Securities
Subject
Financial Advisory Agreement
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Section 8. Insurance. FirstSouthwest shall not commence to perform the Services or <br />Additional Services under this Agreement until it has obtained all of the insurance <br />required under this Agreement and such certificates of insurance have been approved <br />by the County's Risk Manager. A certificate of insurance shall be provided to the <br />County's Risk Manager for review and approval ten days prior to commencement of any <br />work under this Agreement. The insurance company must have a rating by A.M. Best <br />Company of at least A: V. Such certificates of insurance or an endorsement provided <br />by FirstSouthwest must state that the County will be given thirty days' prior written <br />notice prior to cancellation or material change in coverage. The County shall be named <br />as an additional insured on all policies except workers' compensation. FirstSouthwest <br />shall procure and maintain, for the duration of this Agreement, the minimum insurance <br />coverage as set forth herein, and the cost of such insurance shall be included in <br />FirstSouthwest's fee. <br />A. Workers Compensation and Employers Liability: Workers Compensation limits <br />as required by the State of Florida and employers Liability limits of $500,000.00 <br />disease (policy limit) and $100,000 disease (each employee). <br />B. Commercial General Liability: Minimum combined single limit of $500,000 per <br />occurrence for bodily injury and property damage. This is to include <br />premises/operations, products/completed operations, contractual liability and <br />independent contractors coverage. <br />C. Business Auto Liability: Minimum combined single limit of $500,000 per <br />occurrence for bodily injury and property damage. This is to include owned, <br />hired, and non -owned autos. <br />D. Professional liability: Minimum limit of $1,000,000 per occurrence. <br />The County, through its Risk Manager, reserves the right to periodically review any and <br />all policies of insurance and reasonably adjust the limits of coverage required <br />hereunder, from time to time throughout the term of this Agreement. In such event, the <br />County shall provide FirstSouthwest with separate written notice of such adjusted limits <br />and FirstSouthwest shall comply within thirty days of receipt thereof. The failure of <br />FirstSouthwest to provide such additional coverage shall constitute a default by <br />FirstSouthwest and shall be grounds for termination of this Agreement by the County. <br />Section 9. Miscellaneous. <br />A. The Background recitals are true and correct and form a material part of this <br />Agreement. <br />B. County Designee. The County Administrator is hereby designed as the <br />representative of the County. All work performed by FirstSouthwest pursuant to <br />
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