R2005-137 AUTHORIZING AGREEMENT - Laserfiche WebLink

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. ` • � - • � • : � . • . � AGREEMENT THIS AGREEMENT is made and entered into and effective this 1st day of October , 2005 by and between CITY OF DECATUR , a Corporation ("Client"), and ARTHUR J. GALLAGHER RISK MANAGEMENT SERVICES, INC., a ILLINOIS Corporation ("Gallagher"). I. TERM AND TERMINATION This Agreement will remain in effect until terminated by either party upon thirty (30) days prior written notice. II. OBLIGATIONS OF GALLAGHER Gallagher will provide insurance brokerage Services to Client and will use its best efforts � to secure the �following insurance coverages on Client's behalf: Excess Worker's � Compensation, Crime, Excess Property, Package & Umbrella. In the evsnt an insurance company cancels or refuses to place the listed insurance, Gallagher will use its best efforts to obtain the coverage from another insurance company. Gallagher will also provide the Services set out on Exhibit A, attached hereto. III. OBLIGATIONS OF CLIENT A. Gallagher shall receive its usual and customary brokerage commission for the services provided hereunder. In addition to or in lieu of commission, Gallagher will be charging a fee of$40,000 payableOctober 01, 2005 for the Services. (215 ILCS Section 5/500-80(e)) B. In addition to such fees and commissions provided herein, Gallagher may also receive investment income on fiduciary funds temporarily held by it, such as premiums or return premiums. Other parties, such as excess and surplus lines brokers, wholesalers, reinsurance intermediaries, underwriting managers, captive managers and similar parties, some of which may be owned in whole or in part by Gallagher's corporate parent, may earn and retain usual and customary commissions and fees in the course of providing insurance products to clients. Any such fees or commission will not constitute compensation to Gallagher under Section III.A. above. C. Client is responsible for payment of premiums for all insurance placed by Gallagher on its behalf. If any amount is not paid in full when due, including premium payments to insurance companies, that nonpayment will constitute a material breach of this Agreement that will allow GallagFier to immediately terminate this Agreement, at its option, without notice to Client. IV. INDEMNIFICATION A. Gallagher agrees to indemnify and hold Client harmless from any loss, cost, damage, or expense (including reasonable attorney's fees) arising from the negligent acts or omissions of Gallagher. B. Client agrees to indemnify and hold Gallagher harmless from any loss, cost, damage, or expense (including reasonable attorney's fees) arising from the negligent acts or omissions of Client, including any financial obligation to pay premiums to any insurance company. � w � -