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EXHIBIT 3 <br />INSLIRANCE REQUIREMENTS <br />MEMORANDUM OF UNDERSTANDING <br />SAN LEANDRO REDEVELOPMENT AGENCIj <br />The San Leandro Auto Mall Dealers Association (SLAMDA) shall procure and maintain for the <br />Memorandum of Understanding insurance against claims for injuries to persons or damages to <br />property which may arise from or in connection with the fabrication, installation, or maintenance of <br />the Sign. <br />Minimum Scope of Insurance. Coverage shall be at least as broad as: <br />A. Insurance Services Office form number GL 0002 (ed. 1/73) covering Comprehensive <br />General liability and Insurance Services office form number GL 0404 covering Broad <br />Form comprehensive General Liability; or Insurance Services Office Commercial <br />General Liability coverage ("occurrence" form CG 0001). <br />2. Minimum Limits of Insurance. SLAMDA shall maintain limits no less than: <br />A. General Liability: $1,000,000 combined single limit per occurrence for bodily injury, <br />personal injury and property damage. If aggregate limit is sued, either the general <br />aggregate limit shall apply separately to this project/location or the general aggregate <br />limit shall be twice the required occurrence limit. <br />3. Deductibles and Self-Insured Retentions. Any deductibles or self-insured retentions must be <br />declared to and approved by the Agency. At the operation of the Agency, either the insurer <br />shall reduce or eliminate such deductibles or self-insured retentions as respects the Agency, <br />its officers, officials, employees, or volunteers; or the SLAMDA shall procure a band to <br />guarantee payment of losses and related investigations, claim administration and defense <br />expenses. <br />4. Other Insurance Provisions. The policies are to contain, or be endorsed to contain, the <br />following provisions: <br />A. General Liability Coverages. <br />i. The Agency, its officers, officials, employees and volunteers are to be <br />covered as additional insureds as respects: liability arising out of activities <br />related to the Sign performed by or on behalf of the SLAMDA on premises <br />owned, occupied or used by SLAMDA. The coverage shall contain no <br />special limitations on the scope of the protection afforded to the Agency, its <br />officers, officials, employees or volunteers. <br />ii. SLAMDA's insurance shall be primary insurance as respect the Agency, its <br />officers, officials, employees and volunteers. Any insurance or self-insurance <br />Exhibit 3 <br />Page 1 of 2 <br />