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Jan-21-99 04:42pm From-KENNEDY & GRAVEN +3379310 T-657 P.11/12 F-594 <br /> 11. Mutual Renegotiation. This Agreement may be renegotiated by the City and ETC upon <br /> mutual consent of both of the parties. Any such mutual renegotiations of this Agreement <br /> must be reduced to writing as either an amendment to this Agreement or as an entirely <br /> new agreement. <br /> • <br /> ARTICLE VU: PERFORMANCE BOND AND INSURANCE PROVISIONSS <br /> A. Performance Bond. The City reserves the right to require.in its discretion,that ETC post a bond, <br /> certificate of deposit, or other similar instrument approved by the City in an amount as the City <br /> reasonably deems to be adequate compensation for damages resulting from ETC's nonperformance of <br /> its obligations under this Agreement. <br /> B. Insurance. ETC will maintain in full force and effect, at its own cost and expense during the <br /> term of the this Agreement the following insurance coverage: <br /> 1. Commercial General Liability Insurance with limits of: <br /> $1,000,000 each occurrence; <br /> $2,000,000 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. Business Auto with combined single limit of$1,000,000. <br /> 3. Commercial Umbrella Insurance with a policy aggregate limit of$3,000,000. <br /> 4. Standard Workers Compensation and Employers Liability with limits of: <br /> Bodily Injury by Accident$500,00 each accident; <br /> Bodily Injury by Disease$500,000 each employee; <br /> Bodily Injury by Disease$500,000 policy limit. <br /> 5. The City of Mounds View shall be provided with a certificate of insurance for all of the <br /> policies maintained pursuant to this Agreement that shall show the described coverage <br /> including the additional insured endorsement, and the certificate shall provide 60 days <br /> notice to the City of Mounds View in the event of cancellation or non-renewal. <br /> All required insurance shall be with a company acceptable to the City. <br /> SJR-1553$9 8 <br /> MU205.4 <br />