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434 <br />435 Coverage Limits of Liabilitv <br />436 Worker's Compensation Statutory <br />437 Employer's Liability $500,000 <br />438 Bodily Injury Liability $500,000 each occurrence <br />439 Except Automobile $1,000,000 each aggregate <br />440 Property Damage Liability $500,000 each occurrence <br />441 Except Automobile $500,000 each aggregate <br />442 Automobile Bodily Injury $500,000 each person <br />443 Liability $1,000,000 each occurrence <br />444 Automobile Property Damage $500,000 each occurrence <br />445 Excess Umbrella Liability $5,000,000 each occurrence <br />446 <br />447 Section 20 - BOND OR LETTER OF CREDIT <br />448 A. PERFORMANCE BOND OR LETTER OF CREDIT <br />449 1. The Contractor will be required to furnish a corporate surety bond as security for the <br />450 performance of the Contract. Contractor shall furnish bond in the amount of 100% of the <br />451 contract price for one (1) year. 452 <br />453 2. Premium for the bond or letter of credit described above shall be paid by the Contractor. <br />454 A certificate from the surety showing that the bond premiums are paid in full shall <br />455 accompany the bond. <br />456 <br />457 3. The surety on the bond shall be a duly authorized corporate surety company authorized to <br />458 do business in the State. <br />459 <br />460 4. Any Letter of Credit submitted by Contractor must be accepted by the City before same <br />461 may be used/substituted for 1'erformance Bond. <br />462 <br />463 B. POWER OF ATTORNEY <br />464 Attorneys-in-fact who sign performance bonds or contract bonds must file with each bond a <br />465 certified and effectively dated copy of their Power of Attorney. <br />466 <br />467 Section 21- TERMINATION FOR CAUSE <br />468 If at any time the Contractor shall fail to substantially perform terms, covenants or conditions <br />469 herein set forth, the City shall notify the Contractor by registered or certified mail addressed to <br />470 the Contractor at the address set forth herein of specific reasons in support of the City's claim <br />471 that the Contractor has substantially breached the terms and provisions of this Contract. The <br />472 Contractor shall be allowed a thirty (30) day period from the date of receipt of said notice from <br />473 the City to remedy any failure to perform. Should the City deem the failure to perform <br />474 remedied, no hearing shall be held. <br />Specifications for Solid Waste Disposal Landfill Facility and Residential Solid Waste Collection Page 11 <br />. _ 196 <br />