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' <br /> ' II. �EHERAL REQUIREMENTS <br /> ' A. 60NDS <br /> 1 . WHEN THE AMOUNT OF THE CONSTRUCTION CONTRACT IS GREATER THAN <br /> , $15,000, THE CONTRACTOR SHALL FURNISH A PERFORMANCE BOND AND <br /> LABOR AND MATERIAL PAYMENT BOND EQUAL TO 100X OF THE CONTRACT <br /> AMOUNT, COVERING THE FAITHFUL PERFORMANCE OF THE CONTRACT. IN <br /> CASES PERMITTED BY MINN. STAT. S 514.38, AN IRREVOCABLE BANK <br /> ' LETTER OF CREDIT IN THE SAME AhIOUNT REQUIRED FOR THE BOND AND <br /> SUBJECT TO THE SAME CONDITIONS AS THE BOND MAY BE PROVIDED. <br /> THE BOND SHALL REMAIN IN EFFECT FOR ONE (1> YEAR FROM THE DATE <br /> 1 OF SUBSTANTIAL COMPLETION. <br /> 2. IF THE AMOUNT OF THE CONSTRUCTION CONTRACT IS =15,000 OR LESS, <br /> � THE CONTRACTOR SHALL FURNISH THE PARK DISTRICT WITH <br /> SATISFACTORY EVIDENCE THAT THE CONTRACT CAN BE FAITHFULLY <br /> PERFORMED AND THAT ALL OBLIGATIONS ARISING UNDER THE CONTRACT <br /> CAN BE PAID. SATISFACTORY EVIDENCE MAY INCLUDE, BUT IS NOT <br /> , LIMITED T0, BOND, IRREVOCABLE LETTER OF CREDIT, FINANCIAL <br /> STATEMENTS AND PERSONAL GUARANTIES. <br /> , B. INSURANCE <br /> 1 . THE CONTRACTOR SHALL PROCURE, PAY FOR AND MAINTAIN IN FULL <br /> � FORCE AND EFFECT DURING THE COURSE OF THE PERFORMANCE OF THE <br /> CONTRACT, AND IN THE CASE OF PRODUCTS AND COMPLETED OPERATIONS <br /> COVERAGE, FOR A PERIOD OF ONE YEAR THEREAFTER, THE FOLLOWING <br /> MINIMUM INSURANCE COVERAGES: � <br /> , a. WORKERS' COMPENSATION AND OCCUPATIONAL DISEASE INSURANCE -- <br /> LIABILITY LIMITS AS PER STATE STATUTE; <br /> ' b. EMPLOYEE'S LIABILITY INSURANCE -- LIABILITY LIMITS OF <br /> $500,000 FOR BODILY INJURY BY ACCIDENT FOR EACH ACCIDENT; <br /> $500,000 BODILY INJURY BY DISEASE FOR POLICY LIMIT AND <br /> ' $500,000 BODILY INJURY BY DISEASE FOR EACH EMPLOYEE. <br /> c. COMMERCIAL GENERAL LIABILITY INSURANCE, INCLUDING COVERAGE <br /> ' FOR PERSONAL INJURY, BODILY INJURY AND PROPERTY DAMAGE, FOR <br /> CONTRACTUAL LIABILITY, FOR PRODUCTS AND COMPLETED <br /> OPERATIONS, AND FOR EXPLOSION, COLLAPSE, AND UNDERGROUND <br /> , HAZARDS -- LIABILITY LIMITS OF $1 ,000,000 EACH OCCURRENCE <br /> AND $2.000,000 AGGREGATE; <br /> d�. AUTOMOBILE LIABILITY INSURANCE ON ALL AUTOMOTIVE EQUIPMENT <br /> , OWNED, NON—OWNED AND HIRED -- LIABILITY LIMITS OF <br /> $1 ,000,000 PER OCCURRENCE; <br /> , e. OWNER'S PROTECTIVE LIABILITY AND PROPERTY DAMAGE INSURANCE <br /> IN THE NAME OF THE PARK DISTRICT AND THE CONSULTANT -- <br /> LIABILITY LIMITS OF $1 ,000,000 PER OCCURRENCE AND <br /> $1 ,000,000 AGGREGATE; <br /> � <br /> � GENERAL CONDITIONS <br /> PAGE 3 OF 14 <br />