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2005-388
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2005-388
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Last modified
8/16/2016 12:29:08 PM
Creation date
9/30/2015 9:27:33 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
12/06/2005
Control Number
2005-388
Agenda Item Number
7.T.
Entity Name
First Southwest Company
Subject
Financial Advisory Agreement
Supplemental fields
SmeadsoftID
5295
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5 . 3 . 2 . Commercial General Liability with a minimum combined single limit of $ 500 , 000 per <br /> occurrence for bodily injury and property damage . This is to include premises/operations , <br /> products/completed operations , contractual liabilityand independent contractors coverage . <br /> 5 . 3 . 3 . Business Auto Liability with a minimum combined single limit of $ 500 , 000 per <br /> occurrence for bodily injury and property damage . This is to include owned , hired , and non - <br /> owned autos . <br /> 5 . 3 . 4 . Professional liability with a minimum limit of $ 500 , 000 per occurrence . <br /> 5 . 4 . The County is to be an additional insured on the commercial general liability and <br /> business liability policies . The County will be given thirty (30 ) days ' notice prior to cancellation <br /> or modification of any insurance . Such notification shall be in writing by registered mail , return <br /> receipt requested and addressed to the County' s Risk Manager. <br /> 5 . 5 , The County , by and through its Risk Manager, reserves the right periodically to review <br /> any and all policies of insurance and reasonably to 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 FSC with separate written notice of such adjusted limits and FSC shall <br /> comply within thirty (30 ) days of receipt thereof. The failure by FSC to provide such additional <br /> coverage shall constitute a default by FSC and shall be grounds for termination of this <br /> Agreement by the County. <br /> SECTION 6 . TERM OF AGREEMENT . This Agreement shall become effective as of <br /> December 6 , 2005 and , unless sooner terminated by either party pursuant to the terms of this <br /> Agreement , shall remain in effect thereafter for a period of five (5 ) years from such date . <br /> Unless FSC or County shall notify the other party in writing at least forty-five (45 ) days in <br /> advance of the applicable anniversary date that this Agreement will not be renewed , this <br /> Agreement will be automatically renewed on the fifth anniversary of the date hereof for an <br /> additional one ( 1 ) year period , and thereafter will be automatically renewed on each <br /> anniversary date for successive one ( 1 ) year periods , for a maximum term , including all <br /> renewals , of ten ( 10 ) years . <br /> SECTION 7 . TERMINATION . This Agreement maybe terminated with or without cause by <br /> the County or FSC upon the giving of at least forty-five (45 ) days' prior written notice to the <br /> other party of its intention to terminate , specifying in such notice the effective date of such <br /> termination . In the event of such termination , it is understood and agreed that only the <br /> amounts due FSC for services provided and expenses incurred to the date of termination will <br /> be due and payable . No penalty will be assessed for termination of this Agreement . In the <br /> event that FSC merges with another company , becomes a subsidiary of, or makes any other <br /> substantial change in structure , the County reserves the right to terminate this Agreement in <br /> accordance with its terms . All work papers/products developed , as a part of the performance <br /> by FSC under this Agreement, shall become the property of the County upon termination of <br /> 5 <br />
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