City Council Agenda and Packet 2024 01 02

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7.2.3 Fine Art insurance, or a similar policy of insurance, with minimum limits necessary to cover the cost of Artist's obligations to maintain, repair, or replace the Work, including the footer, base, or concrete pad to which the Work is attached. 7.3 The Artist's general liability insurance and automobile liability and physical damage insurance shall be endorsed to include the City, and its elected and appointed officers and employees, as additional insureds, unless the City in its sole discretion waives such requirement. Every policy required above shall be primary insurance, and any insurance carried by the City, its officers, or its employees, shall be excess and not contributory insurance to that provided by the Artist. Such policies shall contain a severability of interests provision. The Artist shall be solely responsible for any deductible losses under each of the policies required above. 7.4 Certificates of insurance shall be provided by the Artist as evidence that policies providing the required coverages, conditions, and minimum limits are in full force and effect, and shall be subject to review and approval by the City. No required coverage shall be cancelled, terminated or materially changed until at least 30 days prior written notice has been given to the City. The City reserves the right to request and receive a certified copy of any policy and any endorsement thereto. 7.5 Failure on the part of the Artist to procure or maintain policies providing the required coverages, conditions, and minimum limits shall constitute a material breach of contract upon which the City may immediately terminate this Agreement, or at its discretion may procure or renew any such policy or any extended reporting period thereto and may pay any and all premiums in connection therewith, and all monies so paid by the City shall be repaid by Artist to the City upon demand, or the City may offset the cost of the premiums against any monies due to Artist from the City. 7.6 The parties understand and agree that the City is relying on, and does not waive or intend to waive by any provision of this Agreement, the monetary limitations or any other rights, immunities, and protections provided by the Colorado Governmental Immunity Act, § 24- 10-101 et sea.C.R.S., as from time to time amended, or otherwise available to the City, its officers, or its employees. 8.0 QUALITY OF WORK Artist's Work shall be created and shipped in accordance with the highest workmanship and service standards in the field to the satisfaction of the City. 9.0 INDEPENDENT CONTRACTOR It is the expressed intent of the parties that Artist is an independent contractor and not the agent, employee or servant of the City, and that: 9.1 SHALL BE WITHHELD OR PAID BY THE CITY. 4 17