Laserfiche WebLink
V. PAYMENT <br />The City shall pay Contractor in current funds for work completed and accepted by <br />the City in accordance with the terms of this Agreement. This is a unit price contract and <br />Contractor shall be entitled to payment for quantities completed and accepted by the City <br />at unit prices submitted by Contractor in Contractor's proposal attached hereto as Exhibit <br />«C„ <br />Contractor recognizes that this Contract shall commence upon the effective date <br />herein and continue in full force and effect until termination in accordance with its <br />provisions. Contractor and the City recognize that the continuation of any contract after <br />the close of any given fiscal year of the City of Paris, which fiscal year ends on September <br />30th of each year, shall be subject to Paris City Council approval. In the event that the <br />Paris City Council does not approve the appropriation of funds for this Contract, the <br />Contract shall terminate at the end of the fiscal year for which funds were appropriated <br />and the parties shall have no further obligations hereunder. <br />VI. INSURANCE AND INDEMNIFICATION <br />That Contractor must, at all times during the term of this Agreement, keep and <br />maintain in full force and effect a policy or policies of insurance, providing at least <br />$500,000.00 per person and $1,000,000.00 for any single occurrence for bodily injury or <br />death and $100,000.00 for any single occurrence for injury to or destruction of property, <br />indemnifying all persons for any and all damages, personal injuries, or property damages <br />sustained as the result of the negligence of Contractor, its agents, servants, or <br />employees, and shall pay all premiums due thereon when due. It is expressly provided <br />that such insurance policy or policies shall and must be written and issued by a reputable <br />insurance company or companies licensed to write insurance policies by the State of <br />Texas. The policy or policies shall be written or endorsed to cover the City, its elected <br />officials, officers and employees as additional insured. Contractor or its insurance <br />carrier or carriers shall deliver a copy of any such policies to the City Clerk of the City of <br />Paris, 150 1 st Street S.E., Paris, Texas 75460, or furnish to said City Clerk a current letter <br />or certificate from such company or companies, evidencing the fact that such insurance is <br />in full force and effect at all times during this Agreement, and any extensions hereof, and <br />specifically noting thereon that City, its elected officials, officers and employees as an <br />additional insured. All such policies shall be written so that the City will be notified of <br />cancellation or of any restrictive amendment of the policies at least thirty (30) days prior to <br />the effective date of such cancellation or amendment. Notice shall be by certified mail, <br />return receipt requested, addressed to the City at the following address: City Clerk, City <br />of Paris, P. O. Box 9037, Paris, Texas 75461-9037. <br />The Contractor and its sureties shall indemnify, defend and hold the City, its <br />elected officials, officers and employees harmless from all suits, actions or claims of any <br />character, name and description brought for or on account of any injuries or damages <br />received or sustained by any person, persons or property on account of the operations of <br />the Contractor, his agents, employees or subcontractors; or on account of any negligent <br />2 <br />