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3.2.11.3 It is the intent of the parties to effectuate the requirements of sections <br />1771, 1774, 1775, 1776, 1777.5, 1813, and 1815 of the Labor Code within this Agreement, and <br />Contractor shall therefore comply with such Labor Code sections to the fullest extent required <br />by law. <br />3.2.12 Insurance. Contractor agrees to procure and maintain, at Contractor's <br />expense all insurance specified in Exhibit C attached hereto and by this reference <br />incorporated herein. Contractor shall require all subcontractors to carry the same policies and <br />limits of insurance that the Contractor is required to maintain, unless otherwise approved in <br />writing by the City. <br />3.2.13 Bonds. <br />3.2.13.1 Performance Bond. Contractor shall execute and provide to City <br />concurrently with this Agreement a Performance Bond in the amount of one million dollars and <br />zero cents ($1,000,000). The performance bond shall be renewed and submitted to the City <br />annually. No payment will be made to Contractor until it has been received and approved by <br />the City. <br />3.2.13.2 Bond Provisions. Should, in City's sole opinion, any bond become <br />insufficient or any surety be found to be unsatisfactory, Contractor shall renew or replace the <br />affected bond within 10 days of receiving notice from City. In the event the surety or Contractor <br />intends to reduce or cancel any required bond, at least thirty (30) days prior written notice shall <br />be given to the City, and Contractor shall post acceptable replacement bonds at least ten (10) <br />days prior to expiration of the original bonds. No further payments shall be deemed due or will <br />be made under this Agreement until any replacement bonds required by this Section are <br />accepted by the City. To the extent, if any, that the compensation is increased in accordance <br />with the Agreement, the Contractor shall, upon request of the City, cause the amount of the <br />bonds to be increased accordingly and shall promptly deliver satisfactory evidence of such <br />increase to the City. To the extent available, the bonds shall further provide that no change or <br />alteration of the Agreement (including, without limitation, an increase in the total <br />compensation, as referred to above), extensions of time, or modifications of the time, terms, or <br />conditions of payment to the Contractor, will release the surety. If the Contractor fails to furnish <br />any required bond, the City may terminate this Agreement for cause. <br />3.2.13.3 Surety Qualifications. Only bonds executed by an admitted surety <br />insurer, as defined in Code of Civil Procedure Section 995.120, shall be accepted. The surety <br />must be a California -admitted surety and satisfactory to the City. If a California -admitted surety <br />insurer issuing bonds does not meet these requirements, the insurer will be considered <br />qualified if it is in conformance with Section 995.660 of the California Code of Civil Procedure, <br />and proof of such is provided to the City. <br />3.2.14 Water Quality Management and Compliance. <br />3.2.14.1 Storm Water Management. Storm, surface, ground, nuisance, or other <br />waters may be encountered at various times during the Services. Contractor hereby <br />acknowledges that it has investigated the risk arising from such waters, has prepared its bid <br />accordingly, and assumes any and all risks and liabilities arising therefrom. <br />Page 6 of 13 <br />