2011 - 04-18-2011 Reg. Meeting - Laserfiche WebLink

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BOOK � fyGE 15.9.3 The County waives subrogation against the Contractor on all property and consequential loss policies carried by the County on adjacent properties and under property and consequential loss policies purchased for the Project after its. completion. 15.9.4 If the policies of insurance referred to in this Article require an endorsement to provide for continued coverage where there is a waiver of subrogation, the owner of such policies will cause them to be so endorsed, failure to obtain proper endorsement nullifies the waiver of subrogation. ARTICLE 16 PERFORMANCE BONDS Prior to beginning work, Contractor agrees to provide the County with performance bond payable to, in favor of, or for the protection of the County for the work to be performed under this Contract in an amount not less than 100% of the estimated contract amount, unconditioned for the full and faithful performance of this Contract. All insurance or bonds required under the terms of this Contract and General Conditions shall be issued by company licensed to do business in the State of North Carolina. ARTICLE 17 PAYMENT BOND Prior to beginning work, Contractor agrees to provide the County with a payment bond conditioned for the prompt payment of all persons supplying labor or material in the performance of the work in an amount not less than the estimated contract amount. ARTICLE 18 TERMINATION Contractor may terminate this Contract upon thirty (30) days written notice to the County, provided, however, that during such thirty (30) days (or until earlier release by the County), Contractor shall continue to diligently perform all of its duties hereunder. The County may cancel this Contract at any time for any reason, with or without cause, upon written notice to the Contractor. If this Contract is terminated by the County with written notice to Contractor, the Contractor shall be paid for the eligible work performed to the time of termination. The termination of this Contract by the County for inadequate performance shall not relieve Contractor of any obligations and liabilities that have accrued at the time of such termination. If this Contract is so terminated, the County shall be liable only for goods or services then delivered by Contractor and accepted by the County. Such termination shall be effective as of the date and time designated by the County. This contract shall be deemed to have been completed in accordance with its terms when the County notifies Contractor that all Debris has been removed to the satisfaction of the County. Page 17