Common use of Security and Damages Clause in Contracts

Security and Damages. The Contractor shall be responsible for security of its equipment and assumes all risk of damage, theft or loss to Contractor’s equipment and supplies occurring from any nature whatsoever. Additionally, Contractor shall be responsible for any maintenance costs and repair costs resulting from any damage or loss from any source whatsoever to its equipment or supplies. Contractor agrees that neither damage to or loss of its equipment shall be applied to or claimed against City property, City liability insurance or commission revenues owed to the City.