Every person or company applying for a contractor’s license shall present to the Building Inspector, to be filed, a certificate or policy of insurance with a minimum limit of $1,000,000 for each occurrence (combined single limit of bodily injury and property damage), a minimum limit of $1,000,000 aggregate for products-completed operations, with a minimum limit of $2,000,000 general aggregate. This general aggregate limit shall apply separately to the contractor's work under this agreement. Further, the issuing insurance company shall agree to provide 30 days’ written notice in the event of expiration or of proposed cancellation of the insurance policy as the city is listed as the certificate holder. Surety shall be conditioned that the principal, and all employees, will comply with all the ordinances of the city relating to model codes, and hold the city harmless on account of any damages arising from faulty performance or neglect of duty by the holder of the license.
(Ord. 2016-2928, passed 5-16-2016; Ord. 2020-2996, passed 2-17-2020; Ord. 2023-3062, passed 3-6-2023)