Agmt 2006 Mercy Housing California XXXIII (4)

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unknown, and which directly or indirectly, in whole or in part, are caused by, arise from, or relate to, or are alleged to be caused by, arise from, or relate to, the payment or requirement of payment of prevailing wages or the requirement of competitive bidding in the rehabilitation of the Project, the failure to comply with any state or federal labor laws, regulations or standards in connection with this Agreement, including but not limited to the Prevailing Wage Laws, or any act or omission of Agency, City or Developer related to this Agreement with respect to the payment or requirement of payment of prevailing wages or the requirement of competitive bidding, whether or not any insurance policies shall have been determined to be applicable to any such Claims. It is further agreed that Agency and City do not, and shall not, waive any rights against Developer which they may have by reason of this indemnity and hold harmless agreement because of the acceptance by Agency or City, or Developer's deposit with Agency of any of the insurance policies described in this Agreement. Throughout the work of renovation of the Project, Developer shall make certified payrolls from the general contractor and all subcontractors available upon Agency request. 5.10 Performance and Payment Bond(s). a. Prior to commencement of the work of rehabilitation, Developer shall cause Developer's contractor to deliver to the Agency copies of payment bond(s) and performance bond(s) issued by a reputable insurance company licensed to do business in California, each in a penal sum of not less than one hundred percent (100%) of the scheduled cost of rehabilitation work for of the Project. The bonds shall name the Agency and the City as co-obligees. b. In lieu of such performance and payment bonds, Developer may submit evidence satisfactory to the Agency of the Developer's ability to commence and complete the rehabilitation of the Project in the form of an irrevocable letter of credit, pledge of cash deposit, certificate of deposit, or other marketable securities held by a broker or other financial institution, with signature authority of the Agency required for any withdrawal, or a completion guaranty in a form and from a guarantor acceptable to Agency. Such evidence must be submitted in approvable form in sufficient time to allow the Agency to review and approve the information within the time specified in the Schedule of Performance. 5.11 Insurance Requirements. Prior to initiating work on the Project and continuing throughout the term of the Ground Lease, Developer and all contractors working on behalf of Developer on the Project shall maintain a commercial general liability policy in the amount of Two Million Dollars ($2,000,000) combined single limit per occurrence, Four Million Dollars ($4,000,000) annual aggregate, or such other policy limit as Agency may require in its reasonable discretion, including coverage for bodily injury, property damage, products, completed operations and contractual liability coverage. Such policy or policies shall be written on an occurrence basis and shall name the Indemnitees (defined in Section 4.1) as additional insureds. Throughout the term of the Ground Lease, Developer and all contractors working on behalf of Developer shall maintain comprehensive automobile liability coverage in the amount of One Million Dollars ($1,000,000), combined single limit including coverage for owned and non- owned vehicles and shall furnish or cause to be furnished to Agency evidence satisfactory to Agency that Developer and any contractor with whom Developer has contracted for the 803698-6 17