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policy shall remain in effect until the Work is accepted as substantially <br />complete. <br />c. The policies required above, except for the Workers' Compensation <br />shall be endorsed to include the City, and its officers and employees, as <br />insurance, <br />additional insured <br />. Every policy required above shall be primary insurance, and any insurance <br />carried by the City, its officers, or its employees, shall be excess and not contributory insurance <br />to that provided by Contractor. The additional insured endorsement for the Comprehensive <br />General Liability insurance required above shall not contain any exclusion for bodily injury or <br />property damage arising from completed operations. The Contractor shall be solely responsible <br />for any deductible losses under each of the policies required above. <br />d. Certificates of insurance shall be completed by the Contractor's insurance <br />agent as evidence that policies providing the required coverages, conditions, and minimum limits <br />are in full force and effect, and shall be subject to review and approval by the City. Each <br />certificate shall identify the Work and shall provide that the coverages afforded under the <br />policies shall not be cancelled, terminated or materially changed until at least 30 days prior <br />written notice has been given to the City. If the words "endeavor to" appear in the portion of the <br />certificate addressing cancellation, those words shall be stricken from the certificate by the <br />agent(s) completing the certificate. The City reserves the right to request and receive a certified <br />copy of any policy. <br />e. Failure on the part of the Contractor to procure or maintain policies <br />providing the required coverages, conditions, and minimum limits shall constitute a material <br />breach of contract upon which the City may immediately terminate the contract, or at its <br />discretion may procure or renew any such policy or any extended reporting period thereto and <br />may pay any and all premiums in connection therewith, and all monies so paid by the City shall <br />be repaid by Contractor to the City upon demand, or the City may offset the cost of the <br />premiums against monies due to Contractor. <br />f. The parties hereto understand and agree that the City is relying on, and <br />does not waive or intend to waive by any provision of this contract, the monetary limitations <br />(presently $150,000 per person and $600,000 per occurrence) or any other rights, immunities, <br />and protections provided by the Colorado Governmental Immunity Act, § 24-10-101 et seq., 10 <br />C.R.S., as from time to time amended, or otherwise available to the City, its officers, or its <br />employees. <br />TheContractor shall furnish a performance bond, payment bond, and <br />g. <br />warranty bond in an amount equal to the contract price <br />, as security for the faithful <br />performance and payment of all Contractor's obligations hereunder, including but not limited to <br />the guaranty period provided in Section 16. These bonds shall remain in effect at least until one <br />year after the date of final payment. All bonds shall be in forms acceptable to the City and <br />executed by such sureties licensed to conduct business in Colorado that are acceptable to the <br />City. <br />31 <br /> <br />