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payment shall not be due to the Contractor until thirty (3 0) days after all work has been <br /> satisfactorily completed . <br /> b . Should Owner reasonably determine that Contractor has failed to perform the Work related <br /> to a Request for Payment, Owner, at its discretion may provide the Contractor seven (7) <br /> days to cure the breach . Owner may withhold the accompanying payment without penalty <br /> until such time as Contractor cures the breach . Should Contractor or its representatives <br /> 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 A Statutory - 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 /> 111 . 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 /> Revised July 2010 3 <br />