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' <br /> ' <br /> iI. GENEitAL RE(�IREMEHTS <br /> � A. BONDS <br /> l . WHEN THE AMOUNT OF THE CONSTRUCTION CONTRACT IS GREATER THAN <br /> ' $15,000, THE CONTRACTOR SHALL FURNISH A PERFORMANCE BONO 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 574.38, AN IRREVOCABLE BANK <br /> LETTER OF CREDIT IN THE SAME AMOUNT 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 /> � 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 L.IMITS 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 /> ' GENERAL CONDITIONS <br /> PAGE 3 OF 14 <br />