Orange County NC Website
Browse       Search
fail to cure the breach within seven (7) days, or fail to reasonably agree to such modified <br />schedule, Owner may immediately terminate this Agreement in writing, without penalty or <br />incurring further obligation to Contractor. This section shall not be interpreted to limit the <br />definition of breach to the failure to perform the Work related to a Request for Payment. <br />c. The Contractor has included in the Contract Price and shall pay all taxes assessed by any <br />authority on the Work or the labor and materials used therein. It shall be the Contractor's <br />responsibility to furnish the Owner documentary evidence showing the materials used and <br />sales and use tax paid by the Contractor and each of its subcontractors. <br />5. INSURANCE <br />a. Minimum requirements -The Contractor shall obtain, at its sole expense, all insurance <br />required under this Agreement and the Contractor shall not commence work until such <br />insurance is in force nor shall the Contractor allow any Subcontractor to commence work <br />on its subcontract until all insurance required to be procured by Subcontractors hereunder <br />has been so obtained by or for the Subcontractor. All required insurance shall be procured <br />from insurance companies licensed to do business in North Carolina with a Best's <br />Insurance Guide Rating of A- or better. Coverage for the following types of insurance <br />shall be maintained continuously during the life of the Project until Final Completion of <br />the Work. Coverages shall be maintained continuously during the life of the Project until <br />Final Completion of the Work for the following types of insurance in the amounts listed: <br />i. Worker's Compensation Insurance with limits for Coverage AStatutory -State of <br />North Carolina and Coverage B Employers Liability $500,000 each accident and <br />policy limit and disease each employee. <br />ii. Comprehensive General Liability and Property Damage Insurance ($500,000 Each <br />Occurrence; $1,000,000 Aggregate). <br />iii. Contractual Liability (Bodily Injury and Property Damage $500,000 Each <br />Occurrence; Property Damage $1,000,000 Aggregate). <br />iv. Personal Injury, with Employment Exclusion deleted ($1,000,000 Aggregate). <br />v. Comprehensive Automobile Liability Insurance (Bodily Injury $100,000 Each <br />Person/Each Accident, $300,000 Each Occurrence; Property Damage $100,000 <br />Each Occurrence). <br />b. Additional Insured -The Owner shall be named as additional insured on all forms of <br />insurance except Worker's Compensation. Each certificate of insurance and policy <br />required hereunder, except the worker's compensation policy, shall bear the provision that <br />"The policy cannot be canceled or reduced in amount and that coverage cannot be <br />eliminated in less than thirty (30) days after mailing written notice to the Owner of such <br />alteration, cancellation, or elimination, the written notice to be sent by Certified Mail." <br />6. INDEMNITY <br />The Contractor shall indemnify and hold harmless to the. extent permitted by law the Owner and <br />its agents and employees from and against any and all claims, damages, losses and expenses, including <br />attorney's fees, arising out of or resulting from the performance or nonperformance of the Work, provided <br />Revised January 2010 $ <br />