Laserfiche WebLink
L. Red Flag Rules. Contractor will implement reasonable policies and procedures to detect, <br />prevent and mitigate the risk of identity theft in compliance with the Identity Theft Red Flag <br />Rules found at 16 Code of Federal Regulations part 681. Further, Contractor must take <br />appropriate steps to mitigate identity theft if it occurs with one or more of the City's covered <br />Services. <br />M. Special Provisions. The Contractor hereby certifies it meets all licensing, insurance, and <br />bonding requirements as required by state law to perform the Services. <br />N. Termination. <br />1. Without Cause. Either Party may terminate this Contract without cause upon thirty <br />days prior written notice to the other. The City shall be liable to pay the Contractor for <br />Services performed as of the effective date of termination, but shall not be liable to the <br />Contractor for anticipated profits, or any other damages other than payment for <br />services performed as of the effective date of termination. <br />2. For Default. Each and every term and condition hereof shall be deemed to be a material <br />element of this Contract. In the event either Party fails to perform according to the terms <br />of this Contract, such Party may be declared in default. If the defaulting Party does not <br />cure said breach within ten (10) days of written notice thereof, the non -defaulting Party <br />may terminate this Contract immediately upon written notice of termination to the <br />other. In the event of such termination by the City, the City shall be liable to pay the <br />Contractor for Services performed as of the effective date of termination, but shall not <br />be liable to Contractor for anticipated profits or any other damages; provided, <br />however, the Contractor will not be relieved of liability to the City for any damages <br />sustained by the City by virtue of any default under this Contract, and the City may <br />withhold payment to the Contractor for the purposes of setoff until such time as the <br />exact amount of damages is determined. <br />O. Time of the Essence. Time is of the essence in performance of the Services and is a significant <br />and material term of this Contract. <br />THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK. <br />Services Contract between <br />Impact Development Fund and City of Louisville <br />Page 4 of 13 <br />