GOLDEN BOY PROMOTIONS 1 - Laserfiche WebLink

Home Browse Search

d. If PROMOTER is or employs a licensed professional such as an architect or engineer: Professional liability (errors and omissions) insurance, with a combined single limit of not less than #1,000,000 per claim. C. The following requirements apply to the insurance to be provided by PROMOTER pursuant to this section: (i) PROMOTER shall maintain all insurance required above in full force and effect for the entire period covered by this Agreement. (ii) Certificates of insurance shall be furnished to the City upon execution of this agreement and shall be approved in form by the City Attorney. (iii) Certificates and policies shall state that the policies shall not be canceled or reduced in coverage or changed in any other material aspect without thirty (30) days prior written notice to the City. If PROMOTER fails or refuses to produce or maintain the insurance required by this section or fails or refuses to furnish the City with required proof that insurance has been procured and is in force and paid for, the City shall have the right, at the City's election, to forthwith terminate this Agreement. Such termination shall not effect PROMOTER'S right to be paid for its time and materials expended prior to notification of termination. PROMOTER waives the right to receive compensation and agrees to indemnify the City for any work performed prior to approval of insurance by the City. 5. INDEMNIFICATION PROMOTER agrees to and shall indemnify and hold harmless the City, its officers, agents, employees, PROMOTER'S special counsel, and representatives from liability: (1) for personal injury, damages, just compensation, restitution, judicial or equitable relief arising out of claims for personal injury, including health, and claims for property damage, which may arise from the direct or indirect operations of the PROMOTER or its contractors, subcontractors, agents, employees, or other persons acting on their behalf which relates to the events as described in section 1 of this agreement; and (2) from any claim that personal injury, damages, just compensation, restitution, judicial or equitable relief is due by reason of the terms of or effect arising from this Agreement. This indemnity and holds harmless agreement applies to all claims for damages, just compensation, restitution, judicial or equitable relief suffered, or alleged to have been suffered, by reason of the events referred to in this Section or by reason of the terms of, or effects, arising from this Agreement. The PROMOTER further agrees to indemnify, hold harmless, and pay all costs for the defense of the City, including fees and costs for special counsel to be selected by the City, regarding any action by a third party challenging the validity of this Agreement, or asserting that personal injury, damages, just compensation, restitution, judicial or equitable relief due to personal or property rights arises by reason of the terns of, or effects arising from this Agreement. City may make all reasonable decisions with respect to its representation in any legal proceeding.