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<br />General Liability $500,000 per occurrence; and
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<br />Automobile Liability $500,000 per occurrence; and
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<br />Umbrella $1,000,000 per occurrence.
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<br />EDC shall provide the County with a Certificate of Insurance for review prior to the
<br />issuance of any contract or Purchase Order. All Certificates of Insurance will require
<br />thirty-days (30 days) written notice by the insurer or EDC's agent in the event of
<br />cancellation, reduction or other modifications of coverage. In addition to the notice
<br />requirement above, EDC shall provide the County with immediate written notice of
<br />cancellation, reduction, or other modification of coverage of insurance. Upon failure of
<br />the EDC to provide such notice, EDC assumes sole responsibility for all loses incurred
<br />by the County for which insurance would have provided coverage. The insurance
<br />certificate shall be for the initial contract period of one (1) year and shall be renewed by
<br />the EDC for each subsequent renewal period of the contract.
<br />The County shall be named as an additional insured and it is required that
<br />coverage be placed with." A" rated insurance companies acceptable to the County.
<br />Statement should read, "Cabarrus' County is to. be added as an additional insured as
<br />evidenced by an endorsement attached to this certificate." Failure to maintain the
<br />required insurance in force may be cause for contract termination. In the event that the
<br />EDC fails to maintain and keep in force the insurance herein required, the County has
<br />the right to cancel and terminate the contract without notice.
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<br />E. Indemnification. The EDC shall, to the fullest extent permitted by law, indemnify,
<br />defend, and hold harmless the County from and against any and all claims, liabilities,
<br />losses, damages, costs,. or expenses, including, without limitation, reasonable attorney's
<br />fees, awards, fines, or judgments arising out of, or relating to any or all of the following:
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<br />1. Inaccurate information or information known to the EDC relating to
<br />the Services provided to the County by the EDC and any and all actions, advice,
<br />decisions or judgments made or recommended to be made by the County in full
<br />or partial reliance thereon.
<br />2. Damages to persons, personal property, or the County caused by
<br />an act or omission of the EDC.
<br />3. All claims, suits, losses, injuries, death, and property liability,
<br />including, without limitation, expenses in connection with any such claim or suit,
<br />including reasonable attorney's fees, occurring in the performance of the
<br />proposed services.
<br />4. All claims and liabilities resulting from the EDC's violation of
<br />federal, state, or local statute, regulation, or ordinance.
<br />5. In the event that any good, service, or process sold and delivered
<br />or sold and performed hereunder shall be defective in any respect whatsoever,
<br />the EDC shall indemnify and save harmless the County from all loss or the
<br />payment of all sums of money by reason of all accidents, injuries, or damages to
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<br />7,( ~J
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