Tenants Installation construction contractor has duly executed a Labor and Materials Payment Bond with a surety authorized to do so in the State of New Mexico, in an amount equal to its contract for the installation/construction of the Tenant Equipment to insure City against loss by reason of any lien or liens that may be filed against the Premises or Airport property. Tenant shall provide City with a true copy of such executed bond, upon request by Director. Tenant shall be solely responsible for payment and pay promptly, as due, all persons supplying labor and materials to such contractor for all elements of such installation/construction of Tenant Equipment on the Premises. Tenant shall keep the Premises free and clear of all mechanics liens resulting from any installation/construction thereto by or on behalf of Tenant and shall permit no lien or claim to be filed or prosecuted against City on account of any such installation/construction or materials furnished. Tenant may contest the correctness or validity of any such lien, but Tenant shall indemnify, defend, and hold harmless City, its elected representatives, officers, agents, and employees, and the Premises from any and all claims and liability for payment of any such lien, or attorneys’ fees. On or before the installation of the Tenant Equipment, Tenant shall deliver to Director, a Performance Bond executed by Tenant’s installation/construction contractor and a surety acceptable to City, in a form acceptable to City, securing installation/construction contractor’s performance of its obligations relating to the installation/construction of Tenant Equipment, in an amount equal to the value of its installation/construction contract, naming City as obligee thereunder. In the alternative, Tenant may, submit to Director in lieu of a Performance Bond, a deposit in an amount equal to the total value of Tenant’s installation/construction contract, subject to the approval of City.
Tenants Installation
