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EXHIBIT 2 <br />d. If Contractor is or employs a licensed professional such as an architect or engineer: <br />Professional liability (errors and omissions) insurance, with a combined single limit <br />of not less than $1,000,000 per claim with $2,000,000 in the aggregate. <br />C. The following requirements apply to the insurance to be provided by Contractor <br />pursuant to this section: <br />(i) Contractor shall maintain all insurance required above in full force and <br />effect for the entire period covered by this Agreement. <br />(ii) Certificates of insurance shall be furnished to the City upon execution of <br />this Agreement and shall be approved by the City. <br />(iii) Certificates and policies shall state that the policies shall not be canceled or <br />reduced in coverage or changed in any other material aspect without thirty <br />(30) days prior written notice to the City. <br />(iv) Where the amounts or coverage provided by the certificates of insurance <br />provides coverage greater than those listed by this Agreement, the amounts <br />provided by the certificates of insurance shall be incorporated by reference <br />into the Agreement. <br />(iv) Contractor shall supply City with a fully executed additional insured <br />endorsement. <br />f. If Contractor fails or refuses to produce or maintain the insurance required by this <br />section or fails or refuses to furnish the City with required proof that insurance has <br />been procured and is in force and paid for, the City shall have the right, at the City's <br />election, to terminate this Agreement. Such termination shall not affect <br />Contractor's right to be paid for its time and materials expended prior to notification <br />of termination. Contractor waives the right to receive compensation and agrees to <br />indemnify the City for any work performed prior to approval of insurance by the <br />City. <br />l:IMEM1OM s1OQ1I-001 YY RI <br />Contractor agrees to and shall indemnify, defend, and hold harmless the City, its officers, <br />agents, employees, consultants, special counsel, and representatives from liability: (1) for personal <br />injury, damages, just compensation, restitution, judicial or equitable relief arising out of claims for <br />personal injury, including death, and claims for property damage, which may arise from the <br />operations or willful misconduct of the Contractor or its, subcontractors, agents, employees, or <br />other persons acting on their behalf which relates to the services described in section 1 of this <br />Agreement; and (2) from any claim that personal injury, damages, just compensation, restitution, <br />judicial or equitable relief is due by reason of the terms of or effects arising from this Agreement. <br />This indemnity and hold harmless agreement applies to all claims for damages, just compensation, <br />restitution, judicial or equitable relief suffered, or alleged to have been suffered, by reason of the <br />events referred to in this Section or by reason of the terms of, or effects, arising from this <br />LVA128 <br />