14.2 Association will have Seabreeze named as an additional insured on all policies, effective with the execution of this Agreement.
14.3 Association will provide Seabreeze with certified copies of these insurance policies, and with certificates of insurance.
14.4 None of the policies required by this contract may be canceled unless Seabreeze first receives 30 days ’ notice of cancellation.
14.5 Any of the coverage ’ s required by this contract will be primary. Any insurance procured by Seabreeze will be excess and non-contributing.
15. BIDS FOR OUTSIDE CONTRACTORS
15.1 At the written direction of the Board, Seabreeze will solicit up to 3 bids for goods and services likely to cost more than $1,500.
15.2 Seabreeze ’ s participation in soliciting and awarding bids will be solely as Association ’ s agent.
15.3 In its request that Seabreeze solicit bids, the Board must include reasonably detailed specifications for the goods or services it is seeking. Seabreeze will try to make helpful suggestions, but the Board bears all responsibility for the fitness of established specifications. 15.4 After examination of the bids, the Board will direct which bidder should be hired. Seabreeze will try to hire the bidder selected by the Board. Any contract with a successful bidder will be a direct contract between Association and the bidder. Seabreeze will not be a party to any such contracts.
15.5 At the board ’ s written direction, Seabreeze will terminate any third-party contractor not performing to the Board ’ s satisfaction.
16. SEABREEZE ’ S COMPENSATION
16.1 Association will pay Seabreeze $2,400.00 per month (the “ management fee ” ) for base services.
16.1.1 The management fee is payable no later than the first of each month.
16.1.2 Any management fee and/or reimbursements not paid by the fifteenth of the month or within fifteen days of the date billed will be subject to a 10% late fee.
16.1.3 If the management fee, any reimbursements and/or late fee are not paid by the end of the month, they will together be subject to interest at the rate of 1% per month (12% per annum).
16.2 Annual Adjustment.
16.2.1 The management fee payable under this contract will increase annually on its anniversary date at a rate of 5%.
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