Laserfiche WebLink
Such reimbursement shall be in addition to the compensation in Article IV A above. <br /> The YMCA's costs shall include all direct costs for such services plus a 12.5% <br /> administrative charge. <br /> The services outlined in this section (Article IV C) may be modified at any time by the <br /> mutual written consent of both the City and the YMCA. <br /> ARTICLE V: PERFORMANCE BOND AND INSURANCE PROVISIONS <br /> A. Performance Bond. The City reserves the right to require, in its sole discretion, that <br /> YMCA post a bond, certificate of deposit, or other similar instrument approved by the <br /> City in an amount as the City reasonably deems to be adequate compensation for <br /> damages resulting from YMCA's nonperformance of its obligations under this <br /> Agreement. The City agrees to provide the YMCA with one hundred and eighty days <br /> advance notice of its intent to require such bond, certificate of deposit, or other similar <br /> instrument. <br /> B. Insurance. YMCA will maintain in full force and effect, at its own cost and expense <br /> during the term of the this Agreement the following insurance coverage: <br /> 1. Commercial General Liability Insurance with limits of: <br /> $2,000,000 each occurrence; <br /> $3,000,000 general aggregate. <br /> Including coverage for products—completed operations and personal injury and <br /> advertising liability. <br /> This policy shall contain an endorsement adding the City of Mounds View as an <br /> additional insured. <br /> 2. Standard Workers Compensation and Employers Liability with limits of: <br /> Bodily Injury by Accident $500,000 each accident; <br /> Bodily Injury by Disease $500,000 each employee; <br /> Bodily Injury by Disease $500,000 policy limit. <br /> 3. The City of Mounds View shall be provided with a certificate of insurance for all <br /> of the policies maintained pursuant to this Agreement that shall show the <br /> described coverage including the City as an additional insured, and the certificate <br /> providing 60 days notice to the City of Mounds View in the event of cancellation <br /> or non-renewal. <br /> 4. All required insurance shall be with a company acceptable to the City. <br /> 5 <br />