15 - Painting of Water Towers with new logo

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paid to the contractor and/or to retain out of any payments due or to become due amounts sufficient to protect the Owner from any and all losses, damages or expenses, including without limitation attorney's fees and other legal expenses incurred by the Owner. Contractor grants owner the right to pay any past-due obligations of contractor which arise out of contractor's performance of this contract either by check made payable directly to any of contractor's creditors asserting a claim or by check made payable jointly to the contractor and any of contractor's creditors asserting a claim and such payments shall apply as payment against any sum which the owner may otherwise owe the contractor pursuant to this contract. Each monthly progress payment payable to the contractor will be reduced by ,dive aercenti5% at the time of payment. The retained percentage and/or final progress payment shall be paid to the contractor after (1) the Work performed by the contractor is completed satisfactorily; (2) contractor has paid all of its creditors as to those obligations which arise from or relate to contractor's performance of this contract; and (3) all disputes, claims, liens, causes of action and/or lawsuits which are related in any way to this contract or contractor's performance of the Work are resolved. Contractor further agrees to indemnify and hold harmless the Owner from any and all claims, demands, suits, causes of action, damages, losses and/or expenses, including attorneys fees, which may be asserted by any suppliers, materialmen, vendors, employees or agents of contractor to whom contractor has an obligation to pay. SECTION 15. WARRANTY. Contractor warrants that all materials and equipment incorporated into the Work conform to the Plans and Specifications, drawings, samples and other descriptions set forth in this contract and that said Work is of good quality and workmanship and free from defect. Unless otherwise provided, contractor agrees that its warranty shall extend for a period of one (1) year from the date said Work, materials and/or equipment is accepted by the Owner and placed in service. This warranty shall insure to the benefit of the Owner and their successors. SECTION 16. INSURANCE. The contractor shall purchase and maintain insurance covering worker's compensation, employer's liability, automobile liability and general liability (including operations, personal injury, sublet, completed operations, contractual and where applicable, coverage for explosion, collapse and underground damage). Coverage's written on an Occurrence basis, shall be maintained, without interruption, from the date of commencement of Work until date of final payment and termination of any coverage required to be maintained after final payment. Such coverage's required shall be maintained by insurance carriers licensed to do business in the State where the Project is located and acceptable to owner. The following coverage's are required to be carried by contractor, consistent with the above and shall include the following coverage's and limits of liability. The minimum limits of liability shall be as follows unless otherwise modified: Workers' Compensation/Employer's Liability Applicable to State of Project location. Limits of coverage shall be: Workers Compensation -----------------------------------------------Statutory Employer's Liability 6