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2019-162
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2019-162
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Last modified
12/30/2019 3:22:12 PM
Creation date
10/7/2019 10:24:25 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
10/01/2019
Control Number
2019-162
Agenda Item Number
8.J.
Entity Name
Hilltop Securities Inc. /Indian River County
Subject
Municipal Advisory Agreement effective October 1, 2019 (original to Kristen Daniels)
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ATRUE COPY <br />CERTIFICATION ON LAST PAGE <br />J.R. SMITH, CLERK <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 musthave a rating by AM. Best <br />Company of at least A: V. Such certificates of insurance or an endorsement provided <br />by HilltopSecurities 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 and professional <br />liability. HilltopSecurities shall procure and maintain, for the duration of this Agreement, <br />the minimum insurance coverage as set forth herein, and the cost of such insurance <br />shall be included in HilltopSecurities fee. <br />A. Workers Compensation and Employers Liability: Workers Compensation <br />limits as required by the State of Florida and employers Liability limits of <br />$500,000.00 disease (policy limit) and $100,000 disease (each employee). <br />B. Commercial General Liability: Minimum combined single limit of $500,000 <br />per 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, hired, <br />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 HilltopSecurities with separate written notice of such adjusted <br />limits and HilltopSecurities shall comply within thirty days of receiptthereof. The <br />failure of HilltopSecurities to provide such additional coverage shall constitute a <br />default by HilltopSecurities and shall be grounds for termination of this Agreement by <br />the County. <br />Section 9. Miscellaneous. <br />A. Background Recitals. The Background recitals are true and correct and form a <br />material part of this Agreement <br />B. County Designee. The. County Administrator is hereby designed as the <br />representative of the County. All work performed by HilltopSecurities pursuantto <br />this Agreement shall be by the direction of the County acting through the County <br />Administrator or his or her designee. <br />C. Independent Contractor. It is specifically acknowledged and agreed by the <br />parties hereto that HilltopSecurities is and shall be, in the performance of all <br />8 <br />
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