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ARTICLE 5 — INSURANCE <br />5.1 During the term of this Agreement, Vendor shall maintain at its own cost and <br />expense (and shall cause any subcontractor to maintain) insurance policies providing insurance <br />of the kind and in the amounts generally carried by reasonably prudent manufacturers in the <br />industry, with one or more reputable insurance companies licensed to do business in Oregon and <br />any other state or jurisdiction where Products and Services are sold hereunder. Such certificates <br />of insurance shall be made available to the Lead Contracting Agency upon 48 hours notice. BY <br />SIGNING THE AGREEMENT PAGE THE VENDOR AGREES TO THIS REQUIREMENT <br />AND FAILURE TO MEET THIS REQUIREMENT WILL RESULT IN CANCELLATION OF <br />THIS MASTER PRICE AGREEMENT. <br />5.2 All insurance required herein shall be maintained in full force and effect until all <br />work or service required to be performed under the terms of this Agreement is satisfactorily <br />completed and formally accepted. Any failure to comply with the claim reporting provisions of <br />the insurance policies or any breach of an insurance policy warranty shall not affect coverage <br />afforded under the insurance policies to protect the Lead Contracting Agency. The insurance <br />policies may provide coverage that contains deductibles or self -insured retentions. Such <br />deductible and/or self insured retentions shall not be applicable with respect to the coverage <br />provided to the Lead Contracting Agency under such policies. Vendor shall be solely <br />responsible for the deductible and/or self -insured retention and the Lead Contracting Agency, at <br />its option, may require Vendor to secure payment of such deductibles or self -insured retentions <br />by a surety bond or an irrevocable and unconditional letter of credit. <br />5.3 Vendor shall carry Workers' Compensation insurance to cover obligations <br />imposed by federal and state statutes having jurisdiction over Vendor's employees engaged in <br />the performance of the work or services, as well as Employer's Liability insurance. Vendor <br />waives all rights against the Lead Contracting Agency and its agents, officers, directors and <br />employees for recovery of damages to the extent these damages are covered by the Workers' <br />Compensation and Employer's Liability or commercial umbrella liability insurance obtained by <br />Vendor pursuant to this agreement. <br />5A Insurance required herein shall not be permitted to expire, be canceled, or <br />materially changed without thirty -days (30-days) prior written notice to the Lead Contracting <br />Agency. <br />ARTICLE 6 — INDEMNIFICATION AND HOLD HARMLESS <br />6.1 Vendor agrees that it shall indemnify, defend and hold harmless Lead Contracting <br />Agency, its respective officials, directors, employees and agents (collectively, the <br />"Indemnitees"), from and against any and all damages, claims, losses, expenses, costs, <br />obligations and liabilities (including without limitation reasonable attorney's fees), suffered <br />directly or indirectly by any of the Indemnitees to the extent of, or arising out of, (i) any breach <br />of any covenant, representation or warranty rude by Vendor in this Agreement, (ii) any failure <br />by Vendor to perform or fulfill any of its obligations, covenants or agreements set forth in this <br />Agreement, (iii) the negligence or intentional misconduct of Vendor, any subcontractor of <br />no <br />