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4.03 The SWDD shall pay the Contractor through payments issued by the County Finance Department in accordance with the Local Government Prompt Payment Act of the Florida Statutes, upon receipt of the certified invoice from the SWDD Managing Director. The parties agree, however, that any payments withheld as liquidated damages or for any other reason allowed by this Contract, shall not be governed by the Florida Prompt Payment Act. 4.04 Rate Adjustment A. All unit prices shall remain the same through September 30, 2018. B. Contractor may request an annual rate adjustment. Such request must be submitted in writing to SWDD no later than April 30th of the year in which Contractor would like the rate adjustment to go into effect.Such rate adjustments are subject to approval by the County Administrator or his designee. If approved,the rate adjustment would become effective October 1 of that year. C. If a rate adjustment is requested,the calculation shall be made as specified in Exhibit A and shall not exceed three percent(3%). 4.05 Performance Bond:The County requires an annual payment and performance bond in the amount of$300,000 renewed each year the contract is extended. ARTICLE 6-INSURANCE 6.01 General Liability Insurance A. Contractor shall obtain and maintain throughout the Initial Term and any Renewal Terms of this Agreement at its expense the following insurance coverage from insurers who are licensed in the State of Florida and have a current rating of B+or better in "Best's Key Rating Guide": 1. Workers'Compensation Insurance.Workers'compensation coverage must be maintained in accordance with current statutory requirements; 2. Employer's Liability Insurance. Employer's liability coverage shall having a minimum limit of liability of$100,000 per occurrence,$100,000 by disease,and $500,000 aggregate by disease; 3. Liability Insurance.Commercial general liability insurance and automobile liability shall have a minimum combined single limit of liability of$1,000,000 for personal bodily injury,including,without limitation,death,and property damage. 4. Excess Coverage. Umbrella or excess liability coverage in the amount of $5,000,000 shall be maintained. B. Notwithstanding the minimum limits of coverage stated in subsection A above,the limits of each underlying insurance coverage must be at least as high as is necessary to support the excess liability insurance coverage. 6.02 Environmental Impairment Insurance The Contractor shall procure environmental impairment insurance upon Contract award and shall maintain such insurance in full force and effect at all times thereafter during the term of this Agreement. he environmental impairment insurance shall provide coverage with minimum Page 4