AGENDA PACKET_2021-12-21 - Laserfiche WebLink

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earnings credits earned during that timeframe. (2) If the aggregate earnings credits earned are insufficient to cover the aggregate of fees incurred during that timeframe, City shall pay the resulting deficiency to Banking Services Provider within forty-five (45) days of its receipt of the semi-annual settlement invoice. b. Compensation directly payable by City to Banking Services Provider, exclusive of earnings credit for City funds on deposit with Banking Services Provider, shall not exceed $75,000 annually plus a fifty (50) percent annual contingency for the term of this Agreement. 2. Section 3, General Provisions, subsection 3-1 Term of the Agreement. The parties agree to extend the term of the Agreement for an additional five (5) year period through December 31, 2026, unless terminated earlier in accordance with Section 3-2 below. 3. Section 3, General Provisions, subsection 3-9 Insurance, shall be amended to read as follows: 3-9. INSURANCE Prior to undertaking performance of work under this Agreement, Contractor shall maintain and shall require its subcontractors, if any, to obtain and maintain insurance as described below: a. Minimum Scope and Limit of Insurance Commercial General Liability (CGL): Insurance Services Office Form CG 00 01 covering CGL on an "occurrence" basis, including products and completed operations, property damage, bodily injury and personal & advertising injury with limits no less than $2,000,000 per occurrence. If a general aggregate limit applies, either the general aggregate limit shall apply separately to this project/location (ISO CG 25 03 or 25 04) or the general aggregate limit shall be twice the required occurrence limit. 2. Automobile Liability: ISO Form Number CA 00 01 covering any auto (Code 1), or if Contractor has no owned autos, hired, (Code 8) and non - owned autos (Code 9), with a limit no less than $1,000,000 per accident for bodily injury and property damage. 3. Workers' Compensation: As required by the State of California, with Statutory Limits, and Employer's Liability Insurance with limit of no less than $1,000,000 per accident for bodily injury or disease. 4. Professional Liability (Errors and Omissions): Insurance appropriate to Consultant's profession, with limit no less than $5,000,000 per occurrence or claim and $10,000,000 in the aggregate. 5. Cyber Liability: Insurance, with limits not less than $5,000,000 per occurrence or claim, $10,000,000 aggregate. Coverage shall besufficiently broad to respond to the duties and obligations as is undertaken by Consultant in this Agreement and shall include, but not be limited to, City Council interruption, cyber extortion, scar &ngineering, infringemen12/4/2021 Page 2 of 6