HUMPHRIES, VALERIE R. - Laserfiche WebLink

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In accordance with the loan agreement between OWNER and the Agency, progress payments due CONTRACTOR shall be paid within. twenty (20) calendar days after the Agency receives CONTRACTOR'S invoice and satisfactory releases of liens or claims for liens by CONTRACTOR, subcontractors, laborers, and material suppliers for completed work or installed materials. Final payment of the remainder shall be made thirty-five (35) calendar days after final inspection and acceptance of all work to performed by CONTRACTOR and CONTRACTOR has furnished the Agency, for OWNER'S benefit, satisfactory releases of liens or claims for liens by CONTRACTOR, subcontractors, laborers, and material suppliers. Progress payments and/or final payment may be withheld on account of defective work not remedied, claims filed, failure of CONTRACTOR to make payments properly to subcontractors or for labor, materials, or equipment, damages by another contractor, or unsatisfactory prosecution of the work by CONTRACTOR, as determined by OWNER and the Agency. III. INDEMNIFICATION AND INSURANCE 14. INDEMNIFICATION CONTRACTOR shall indemnify and save harmless OWNER and the Agency, and their officers and employees, against any and all damages to property and injuries to or death of any person or persons, including employees or agents of the of Santa Ana, and shall defend, indemnify and save harmless OWNER and the Agency, their officers and employees, from any and all claims, demands, suits, actions or proceedings of any kind or nature, including, but not by way of limitation, worker's compensation claims of or by anyone whomsoever in any way resulting from or arising out of the operations in connection herewith, including operations of subcontractors and acts or omissions of employees or agents of CONTRACTOR or his subcontractors. 15. INSURANCE With respect to performance of work under this Contract, CONTRACTOR shall maintain and shall require its subcontractors, if any, to maintain insurance as described below: (1) Workers' compensation insurance with statutory limits, and employer's liability insurance with limits of not less than $500,000 per accident. (2) Commercial general liability insurance or equivalent form, with a combined single limit of not less than $300,000 per occurrence. Such insurance shall name OWNER and the Agency as additional insured. CONTRACTOR shall (a) furnish properly executed certificates of insurance to OWNER and the Agency prior to commencement of work under this Contract, which certificates shall clearly evidence all coverage required above and provide that such insurance shall not be materially changed or terminated except on 30 days' prior written notice to OWNER and the Agency; and (b) maintain such insurance from the time work first commences until completion of the work under this Contract and (c) replace such certificate for policies expiring prior to completion of work under this Contract. Exhibit "R" 4