CALIFORNIA DEPARTMENT OF TRANSPORTATION (2)

Home Browse Search

22. insurance. LOCAL AGENCY and its contractors shall maintain in force, during the term of this AGREEMENT, a policy of general liability insurance, including coverage of bodily injury and property damage liability, naming the STATE, its officers, agents and employees as the additional insured in an amount of $1 million per occurrence, $2 million in aggregate, and $5 million in excess, as may be amended as the minimum liability coverage limits codified in the State's Standard Specifications. LOCAL AGENCY will provide a certificate of insurance evidencing this insurance in a form satisfactory to STATE as a condition to STATE's execution of this AGREEMENT. 23. Budget Contingency. STATE's payments to LOCAL AGENCY are contingent upon the Legislature appropriating sufficient funds under the Budget Act and the encumbrance of funding to STATE's District Office. 24. Termination. Either PARTY may terminate this AGREEMENT upon 30 days' prior written notice to the other PARTY. 25. Effective Date (Term) of Agreement. This AGREEMENT shall become effective on the last of the dates each PARTY's authorized representative has executed this AGREEMENT and shall expire on June 30, 2027. 26. Authority. Each individual executing this AGREEMENT on behalf of each PARTY represents and warrants that he/she is duly authorized under the law to execute this AGREEMENT. LOCAL AGENCY represents and certifies that it has, through its regular political process, authorized the execution of this AGREEMENT by appropriate resolution, delegation, or plenary authority as required. 27. Default. If LOCAL AGENCY fails to perform obligations assumed under this agreement, the STATE may, by written notice, request that the default be remedied within thirty (30) calendar days. If LOCAL AGENCY fails or refuses to do so, the STATE may seek legal remedies including specific performance, complete the obligations and refuse to pay LOCAL AGENCY's future invoices until STATE's expenses are redeemed. 28. Counterparts. This AGREEMENT may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same document.