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B. Term. This Agreement shall be effective upon execution by the parties and shall <br />continue until December 31, 1998, or until terminated by either party upon a thirty (30) <br />day written notice, whichever occurs first. <br />C. Compensation. The fees for electrical inspection services shall be based upon 80% of <br />the permit fees as shown on Exhibit "A" attached and incorporated. The City shall <br />remit payments within thirty (30) days following receipt of a monthly invoice form <br />North Metro. Invoices for inspections which were completed eighteen (18) months <br />before submission of the invoice shall be void and the City shall not be required to <br />remit payment for such invoices. <br />D. Insurance. North Metro shall secure and maintain the following minimum insurance <br />coverages: <br />1. Worker's Compensation as required by Minnesota law. <br />2. General liability insurance in the amount of $300,000 per claimant and <br />$1,000,000 $750,000 per occurrence. <br />3. Professional liability insurance covering North Metro for liability incurred in <br />performing its professional services. Coverage shall be in the amount of <br />$200,000 $300,000 per claimant and $400,000 $750;888 per occurrence. <br />4. The general liability insurance and professional liability insurance shall include a <br />statement that such policies will not be cancelled until after thirty (30) days' <br />written notice to the City of the insurance company's intention to cancel the <br />insurance coverage. The policies shall name the City as an additional insured. <br />5. North Metro shall provide the City with Certificates of Insurance evidencing that <br />the required insurance is in effect and will continue in effect during the term of <br />this Agreement. <br />E. Licensing. North Metro shall provide the City with evidence that all employees of <br />north Metro who provide electrical inspection service to the City of Little Canada have <br />a Class "A" Journeyman's License as required by Minn. Stat. Chapter 326 and <br />Minnesota Rules Chapter 3800 or a Master's License. <br />F. Indemnification. Parties shall indemnify and hold harmless each other and their <br />officials, agents, and employees from any loss, claim, liability and expense (including <br />reasonable attorney's fees and expenses of litigation) arising out of a any action of the <br />respective parties in the performance of the service of this Agreement. <br />Page 2 of 3 <br />Page 38 <br />