orders and damages, including interest, penalties and attorney's fees, that Agent shall incur or suffer which arise, result from, or relate to the performance by Agent of its duties under this Agreement, except for the willful misconduct or gross negligence of Agent. This provision shall survive any termination of this Agreement. B. Agent will be responsible only for any willful misconduct and gross negligence where such liability is due to the sole conduct of Agent and/or its employees in the performance of its duties under this Agreement.
VI.
INSURANCE AND FIDELITY BOND REQUIREMENTS
A. Association agrees to maintain, at its sole cost and expense, a comprehensive general liability policy for limits in accordance with civil code including: premises/operations, personal injury, broad form property damage, workers compensation insurance (if applicable), and owned (if applicable) and non-owned automobile liability and an adequate fidelity bond. Association further agrees to furnish Management with certified copies of said policies or certificates of insurance and to list Management as an additional insured under all policies. B. Management shall, throughout the term of this Agreement, and at Management's expense, maintain a policy of worker's compensation, an employer's liability insurance policy, and a comprehensive general liability insurance policy including automobile liability, completed operations, blanket contractual and personal injury coverage with a combined single limit of not less than $1,000,000 bodily injury and property damage. Management further agrees to provide Association with certificates of said insurance. C. Management and those employees of Management who handle or are responsible for the handling of the Association monies shall be bonded by a fidelity bond in an amount of not less than $1,000,000. Said fidelity bond insurance shall be in the name of the Management and shall further name, by endorsement, Association to provide the maximum protection in the event of loss due to theft, forgery, embezzlement and similar forms of losses. D. Management further agrees to maintain an Errors and Omissions policy of insurance of professional liability in the amount of not less than $1,000,000, providing certificates of said insurance to the Association, and provide notice to Association of any change or cancellation of said policy.
VII. MEDIATION, ARBITRATION AND ATTORNEY'S FEES
A. In the event of Any claim, controversy or dispute of whatever nature arising out of or concerning this Agreement the first resolution action shall be mediation. If mediation does not resolve the issue, the next resolution action shall be binding arbitration.
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VRC PPM Proposed Contract 2022 2/4/2022
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