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MEEDER PUBLIC FUNDS, INC.
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Last modified
5/23/2024 3:04:00 PM
Creation date
5/23/2024 3:00:42 PM
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Contracts
Company Name
MEEDER PUBLIC FUNDS, INC.
Contract #
A-2024-054
Agency
Finance & Management Services
Council Approval Date
5/7/2024
Expiration Date
4/30/2027
Insurance Exp Date
4/1/2025
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Notice of Cancellation <br />Each insurance policy required above shall provide that coverage shall not be canceled, except <br />with notice to the City. <br />Waiver of Subrogation <br />Consultant hereby grants to City a waiver of any right to subrogation which any insurer of said <br />Consultant may acquire against the City by virtue of the payment of any loss under such insurance. <br />Consultant agrees to obtain any endorsement that may be necessary to affect this waiver of <br />subrogation, but this provision applies regardless of whether or not the City has received a waiver <br />of subrogation endorsement from the insurer. <br />Self -Insured Retentions <br />Self -insured retentions must be declared to and approved by the City. The City may require the <br />Consultant to purchase coverage with a lower retention or provide proof of ability to pay losses <br />and related investigations, claim administration, and defense expenses within the retention. The <br />policy language shall provide, or be endorsed to provide, that the self -insured retention may be <br />satisfied by either the named insured or City. <br />Acceptability of Insurers <br />Insurance is to be placed with insurers authorized to conduct business in the state with a current <br />A.M. Best's rating of no less than A:VII, unless otherwise acceptable to the City. <br />Verification of Coverage <br />Consultant shall furnish the City with original certificates and amendatory endorsements (or copies <br />of the applicable policy language effecting coverage required by this clause) and a copy of the <br />Declarations and Endorsement Page of the CGL policy listing all policy endorsements to the City <br />before work begins. However, failure to obtain the required documents prior to the work beginning <br />shall not waive the Consultant's obligation to provide them. The City reserves the right to require <br />complete, certified copies of all required insurance policies, including endorsements required by <br />these specifications, at any time. <br />Special Risks or Circumstances <br />City reserves the right to modify these requirements, including limits, based on the nature of the <br />risk, prior experience, insurer, coverage, or other special circumstances. <br />7. INDEMNIFICATION <br />Consultant agrees to defend, and shall indemnify and hold harmless the City, its officers, <br />agents, employees, contractors, 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 />negligent operations of the Consultant, its subcontractors, agents, employees, or other persons <br />acting on its behalf which relates to the services described in section 1 of this Agreement; and (2) <br />from any claim that personal injury, damages, just compensation, restitution, judicial or equitable <br />relief is due by reason of the terms of or effects arising from this Agreement. This indemnity and <br />hold harmless agreement applies to all claims for damages, just compensation, restitution, judicial <br />Page 4 of 9 <br />"Try ouncil 22 — 6 5/7/2024 <br />
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