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Contractor also acknowledges and agrees that no withholding or <br />deduction for State or Federal income taxes, FICA, FUTA, or otherwise, <br />will be made from the payments due Contractor and that it is <br />Contractor's sole obligation to comply with the applicable provisions of <br />all Federal and State tax laws. <br />7. INDEMNIFICATION <br />Any and all claims that arise or may arise on behalf of the Contractor, its <br />agents, servants or employees as a consequence of any act or omission <br />on the part of Contractor or its agents, servants, employees while <br />engaged in the performance of the Contract shall in no way be the <br />obligation or responsibility of the City. Contractor shall indemnify, hold <br />harmless and defend the City, its officers and employees against any and <br />all liability, loss, costs, damages, expenses, claims and actions, including <br />attorneys' fees which the City, its officers or employees may hereafter <br />sustain, incur or be required to pay, arising out of or by reason of any <br />negligent or willful act or omission of Contractor, its agents, servants or <br />employees, in the execution, performance, or failure to adequately <br />perform Contractor's obligations pursuant to this Contract. <br />INSURANCE <br />8.1 General Terms. in order to protect itself and to protect the City <br />under the indemnity provisions set forth above, Contractor shall, <br />at Contractor's expense, procure and maintain policies of <br />insurance covering the term of this Contract, as set forth below. <br />Such policies of insurance shall apply to the extent of, but not as <br />a limitation upon or in satisfaction of, the indemnity provisions <br />herein. All retentions and deductibles under such policies of <br />insurance shall be paid by Contractor. Each such policy of <br />insurance shall contain a clause providing that such policy shall <br />not be canceled by the issuing company without at least ten (10) <br />days written notice to the City of intent to cancel. <br />8.2 Coverage. The policies of insurance to be obtained by Contractor <br />pursuant to this section shall be purchased from a licensed carrier <br />and shall include the following: <br />A) Professional Liability <br />Professional liability insurance covering personnel of the <br />Contractor, if any, will provide professional services under this <br />Contract, which shall include the following coverages at a <br />minimum: <br />-4- <br />