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The Consultant shall be paid on the basis of a firm fixed price of $55,125 for the <br />Services. Payment shall be made by the Government to Consultant on the basis of <br />Services and the work product rendered as shown in Exhibit A, following the <br />Government's receipt of an invoice, which invoice shall be due within thirty (30) days of <br />the date thereof (the "Payment Date"). <br />Invoices shall be mailed to: <br />Rene Casiano, Applications Director <br />227 W Jefferson Blvd,121° Floor IT <br />South Bend, IN 46601 <br />VIII. INSURANCE <br />Consultant agrees to procure and maintain in effect during the term of this Agreement <br />insurance policies in the amount and with the type of coverage shown below: <br />1. Workers Compensation insurance in the form and amount required by <br />applicable law(s). <br />2. Commercial General Liability insurance on an "Occurrence Basis" with limits <br />of liability not less than $500,000 per occurrence and/or combined single -limit <br />bodily injury and property damage. <br />3. Motor Vehicle Liability, including No -Fault coverage, with limits of liability <br />not less than $500,000 per occurrence and/or aggregate combined single limit, <br />personal 'injury, bodily injury and property damage. Coverage shall include <br />all non -owned vehicles, and all hired vehicles. <br />4. Professional Liability, with limits of liability of $3,000,000 per claim and <br />policy aggregate. <br />IX. INDEMNIFICATION; LIMITATION ON LIABILITY <br />A. Mutual Indemnification: Subject to any limitation set forth below in Clause B, <br />each party (the "Indemnifying Party") shall indemnify, defend and hold <br />harmless the other party (the "Indemnified Party") and its respective officers, <br />directors, employees and agents against any and all actions, controversies, <br />demands, suits, proceedings, claims, causes of action, liabilities, losses, costs, <br />interest, penalties, demands, expenses and damages of any kind whatsoever <br />(including reasonable attorneys' fees and costs incurred in connection with the <br />arbitration or resolution of any dispute as set forth herein) (collectively, "Losses") <br />related to or arising, directly or indirectly, from any claims of third parties against <br />an Indemnified Party arising out of the acts or omissions of the Indemnifying <br />Party or any of its employees and/or agents. <br />Govermnent Finance Officers Association 3 of 7 <br />