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Work performed under this contract shall be performed pursuant to work orders issued from the City to Contractor. Contractor shall complete the work specified in the work orders within ten business days of issuance from the City and shall invoice the City for the work performed on a monthly basis. The approximate value of this contract is FORTY-EIGHT THOUSAND AND NO/100 DOLLARS ($48,000.00), and payments due from the City to Contractor hereunder shall not exceed that amount. Notwithstanding the foregoing, nothing in this Agreement shall be construed as a right or guarantee that the City will issue work orders pursuant hereto, nor shall it be construed as a right or guarantee to payment of any particular total amount. The City will issue work orders on an as needed basis and pay for the work so ordered in accordance with this section. Contractor recognizes that this Agreement shall commence upon the effective date herein and continue in full force and effect until termination in accordance with its provisions. Contractor and the City recognize that the continuation of any contract after the close of any given fiscal year of the City of Paris, which fiscal year ends on September 30th of each year, shall be subject to Paris City Council approval. In the event that the Paris City Council does not approve the appropriation of funds for this Contract, the Contract shall terminate at the end of the fiscal year for which funds were appropriated and the parties shall have no further obligations hereunder. V. INSURANCE AND INDEMNIFICATION That Contractor must, at all times during the term of this Agreement, keep and maintain in full force and effect a policy or policies of insurance, providing at least $500,000.00 per occurrence and $1,000,000.00 aggregate for bodily injury (including death), and damage or destruction of property, indemnifying all persons for any and all damages, personal injuries, or property damages sustained as the result of the negligence of Contractor, its agents, servants, or employees, and Contractor shall pay all premiums due thereon when due. It is expressly provided that such insurance policy or policies shall and must be written and issued by a reputable insurance company or companies licensed to write insurance policies by the State of Texas. The policy or policies shall be written or endorsed to cover the City, its elected officials, officers and employees as additional insured. Contractor or its insurance carrier or carriers shall deliver a copy of any such policies to the City Clerk of the City of Paris, 150 1st Street S.E., Paris, Texas 75460, or furnish to said City Clerk a current letter or certificate from such company or companies, evidencing the fact that such insurance is in full force and effect at all times during this Agreement, and any extensions hereof, and specifically noting thereon that the City, its elected officials, officers and employees are covered as an additional insured. All such policies shall be written so that the City will be notified of cancellation or of any restrictive amendment of the policies at least thirty (30) days prior to the effective date of such cancellation or amendment. Notice shall be by certified mail, return receipt requested, 2