2000-266C - Laserfiche WebLink

Home Browse Search

C-] 40 a ARTS. PROJECT INSURANCE AND BONDS 12.1 j n s ura n . The Dodgers shall secure and retain, or shall cause to be secured and retained, such policy or policies of insurance as are required by the Project Documents, including (i) coverage to protect against a!1 claims arising, from Services performed hereunder, (ii) coverage to protect from actions by a third party against the Dodgers as a result of this Agreement, and (iii) builders risk/casualty loss coverage for the Project. The insurance required by this Section 12.1 shall be written for not less than any limits of liability specified herein and in the Project Documents, or required by law, whichever is greater. All insurance carriers must have an A. B. Best & Co. rating of at least "A". The insurance coverage provided by Dodgers hereunder shall name the City of Vero Beach, Florida (the "City") and the County (as their interests may appear) as additional insureds. 12.2 Amonno ond 13mes. During the performance of Services hereunder, the Dodgers shall maintain insurance for the mutual protection and benefit of the Dodgers, the County and the City to cover claims that may arise out of or result from ,Dodgers' Services hereunder, whether same be by the Dodgers or a subcontractor or by anyone directly or indirectly employed by any of them, or by anyone for whose acts any of them may be liable.. Such insurance shall cover claims for damages insured by usual commercial general liability coverage. 12.3 Cancellation. The County and the City will be given written notice thirty (30) days prior to any cancellation of any insurance required to be maintained hereunder. The Dodgers shall be diligent in replacing any canceled insurance and, subject to the next sentence hereof, shall replace such insurance in a timely fashion to avoid any potentially uninsured liabilities of the type required to be covered by insurance. In the event that any insurance described herein or anyponion thereof becomes commercially unavailable andior at unreasonable rates, the Dodgers shall obtain such suitable replacement insurance as may be commercially available and at reasonable rates, and the insurance coverage required by this Agrccmcnt shall be modified accordingly. 12.4 Subcgntractor lmurance. The Dodgers shall require contractors to obtain maintain, and keep to force insurance coverage in accordance with accepted industry standards during the time they are engaged hereunder, with the Counry and the City named as an additional insured. 12.5 Bonds. The Dodgers shall assure that the Design Build Firm furnishes separate performance and payment bonds in the amount of one hundred percent (100%) of the cost of construction, naming the County as co -obligee. The bonds shall be executed by a corporate surety or corporate sureties that are reasonably acceptable to the County, and duly authorized to do business in the State ofFlorida, and executed on forms reasonably approved by the County. The Bond must comply with Florida Statutes, Section 255.05. Ila surety upon any bond furnished in connection herewith becomes insolvent, or 26