ILLUMINATION FOUNDATION (40) - Laserfiche WebLink

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14.8 Verification of Coverage. Grantee shall furnish City with original Certificates of Insurance including all required amendatory endorsements (or copies of the applicable policy language effecting coverage required by this clause). A statement on a Certificate(s)/Evidence of Insurance will not be accepted in lieu of the actual endorsements required herein. Failure to obtain the required documents prior to the work beginning shall not waive Grantee's obligation to provide them. City reserves the right to require complete, certified copies of all required insurance policies, including endorsements, required by these specifications, at any time. 14.9 Sub-Contractors. Grantee shall require and verify that all sub-contractors maintain insurance meeting all requirements stated herein, and Grantee shall ensure that City is an additional insured on insurance required from sub-contractors. For CGL coverage, sub- contractors shall provide coverage with a form at least as broad as CG 20 38 04 13. 14.10 Surety Bonds. Grantee shall provide the following Surety Bonds: (a) Bid Bond (b) Performance Bond (c) Payment Bond (d) Maintenance Bond The Payment Bond and the Performance Bond shall be in a sum equal to the contract price. If the Performance Bond provides for a one-year warranty a separate Maintenance Bond is not necessary. If the warranty period specified in the contract is for longer than one year a Maintenance Bond equal to 10% of the contract price is required. Bonds shall be duly executed by a responsible corporate surety, authorized to issue such bonds in the State of California and secured through an authorized agent with an office in California. 14.1.1 Special Risks or Circumstances. City reserves the right to modify these requirements, including limits, based on the nature of the risk, prior experience, insurer, coverage, or other circumstances. 14.12 Claims and Proceedings. Grantee shall give City immediate notice of any material casualty to any portion of the Property, whether or not covered by insurance, and of the initiation or threatened initiation of any proceeding for the condemnation or other taking for public or quasi-public use of any portion of the Property (collectively, "Condemnation"), and shall provide City with copies of all documents which pertain to any such casualty or Condemnation. Grantee shall take all action reasonably required by City in connection therewith to protect the interests of Grantee and/or City, and City shall be entitled (without regard to the adequacy of its security) to participate in any action, claim, adjustment or proceeding and to be represented therein by counsel of its choice. Grantee shall not settle, adjust, or compromise any claim, action, adjustment or proceeding without prior written approval, which approval shall not be unreasonably withheld or delayed. 14.13 Delivery of Proceeds to Cif. In the event that, notwithstanding the "lender's loss payable endorsement" requirement set forth above, the proceeds of any casualty insurance