2006-211 - Laserfiche WebLink

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cost and the final project cost. The COUNTY may require (at COUNTY ' s expense) redesign and/or re-bid if, in the COUNTY' S sole discretion, project costs significantly exceed reasonable costs. Bids shall include Performance and Payment Bonds with the COUNTY being named an additional party covered by the Bonds . The bid price of the selected bid shall be deemed to be the "Fixed Contract Price" for the purpose of this Agreement. If the actual construction costs exceed the Fixed Contract Price, DEVELOPER and COUNTY agree that COUNTY shall not be obligated to reimburse DEVELOPER any amounts corresponding to the excess costs over the Fixed Contract Price, except for those improvements east of the Vero Village roadway connection at 37`h Street. COUNTY agrees to reimburse the County' s share of the Fixed Contract Price to DEVELOPER monthly after DEVELOPER presents COUNTY with an invoice, approved by DEVELOPER, the engineer, contractor or other third party performing the design and construction work. All requests for payment under this agreement shall be governed by the Florida Prompt Payment Act, FS 218 . 70 et. seq. Upon completion and acceptance of the Road Project, DEVELOPER shall provide a bill of sale to COUNTY (using COUNTY ' s form existing on the date of this Agreement) for the improvements in this paragraph together with a one-year warranty covering said improvements. 4 . INSURANCE. DEVELOPER and DEVELOPER' S contractors and subcontractors will maintain the following minimum limits of insurance during the tern of this agreement and shall provide evidence of said coverage being in effect by providing the County with a Certificate of Insurance listing Indian River County as an additional insured : A. General Liability Coverage shall include contractual liability, products and completed operations, independent contractors, broad from general liability extensions, and per contract aggregate: Each Occurrence: $ 1 ,000,000 Fire Damage (Any on fire) $50,000 Medical Expenses (Any one person) $5 ,000 Personal & Adv Injury $ 1 ,000,000 General Aggregate $2,000,000 B . Automobile Liability — Combined Single Limit $ 1 ,000,000 C . Worker' s Compensation Statutory — if and as required by the State of Florida Each Accident $ 100,000 Each Disease — Each Employee $ 100,000 Each Disease — Policy Limit $ 500,000 5 . Professional Liability insurance on occurrence or claims made basis with limits of liability not less than $ 1 ,000,000 per occurrence and $2,000,000 aggregate combined 5