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<br /> <br /> <br /> <br /> <br />at least $250,000.00 per person and $500,000.00 for any single occurrence for bodily injury <br /> <br /> <br />or death and $100,000.00 for any single occurrence for injury to or destruction of property, <br /> <br /> <br />indemnifying all persons for any and all damages, personal injuries or property damages <br /> <br />arising out of or as a result of the services under this Agreement, and shall pay all premiums <br /> <br />due thereon when due. It is expressly provided that such insurance policy or policies shall <br /> <br />and must be written and issued by a reputable insurance company or companies, subject to <br /> <br /> <br />approval by the City Attorney of the City of Paris, and CONTRACTOR or his insurance <br /> <br /> <br />carrier or carriers shall deliver a copy of any such policies to the City clerk of the City of <br /> <br /> <br />Paris, or furnish to the City clerk a current letter or certificate from such company or <br /> <br /> <br />companies, evidencing the fact that such insurance is in full force and effect at all times <br /> <br /> <br />during this Agreement and any extension thereof; and providing further, that CITY shall be <br /> <br />a coinsured under such policies and shall receive a minimum of thirty (30) days notice of <br /> <br />termination of such policy. <br />11. That, in consideration of the faithful compliance with the terms and conditions of this <br /> <br />Agreement, the CITY shall pay to CONTRACTOR the total sum of Twenty-four Thousand <br /> <br />, and no/l00 Dollars ($24;990.00) per year, in twelve (12) equal monthly installments of <br /> <br />$2,082.50 each. <br /> <br />12. That this Agreement shall be for a term of one (1) year, commencing on January 1,2005, and <br /> <br />ending on December 31,2005. This Agreement shall renew automatically on January 1 of <br /> <br />each year for the next four (4) years unless either party to this Agreement provides at least <br /> <br />sixty (60) days notice to the other party as provided herein of the desire not to renew. Such <br /> <br /> <br />renewals shall be at the same compensation provided herein. <br /> <br />-8- <br />