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53 <br />The Payment Bond will initially be in the penal sum equal to $2,000,000. In the event the parties <br />agree to exercise to extend the Contract, or if the cumulative amount of Work issued and not yet <br />completed and accepted exceeds such amount, the Contractor shall deliver a new Payment Bond or <br />a rider as required by the City. <br />For a Federally Funded Work Order, the Contractor may be required to submit an additional <br />payment bond in accordance with the applicable Federal Contract Clauses. <br />5.3 Contractor's Liability Insurance <br />5.3.1 Contractor shall purchase and maintain such commercial general liability and other <br />insurance as will provide protection from claims set forth below which may arise out of or <br />result from Contractor's performance of the Work and Contractor's other obligations under <br />the Contract Documents, whether such performance is by Contractor, by any Subcontractor, <br />by anyone directly or indirectly employed by any of them, or by anyone for whose acts any <br />of them may be liable. <br />a. Commercial General Liability Insurance on an Occurrence Basis in an amount not less <br />than $2,000,000 per occurrence and at least $5,000,000 in the annual aggregate, <br />including but not limited to: <br />1. Bodily Injury Liability; <br />2. Property Damage Liability (to include explosion, collapse and underground); <br />3. Blanket Contractual Liability; <br />4. Premises/Operations (including off-site operations); <br />5. Broad Form Property Damage Liability; <br />6. Products: Completed Operations Liability; <br />7. Personal Injury Liability; <br />8. Liability for Property of Others in the Care, Custody and Control of the <br />Contractor. <br />Commercial General Liability Insurance shall be written on Insurance Services Office <br />(“ISO”) occurrence form CG 00 01 and shall cover liability arising from premises, <br />operations, stop gap liability, independent contractors, products- completed operations, <br />personal injury and advertising injury, and liability assumed under an insured contract. <br />The City shall be named an insured under the Contractor’s Commercial General Liability <br />insurance policy with respect to the Work performed for the City using ISO Additional <br />Insured endorsement CG 20 10 10 01 and Additional Insured-Completed Operations <br />endorsement CG 20 37 10 01 or substitute endorsements providing equivalent coverage. <br />b. Comprehensive Automobile Liability Insurance in an amount not less than <br />$1,000,000 per occurrence, including but not limited to: