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iv. Waste Management's insurance shall apply separately to each insured against whom claim is made or suit is brought, except with respect to the limits of the insurer's liability. B. During Project Operations 1. Public Liability Insurance. Waste Management shall, at all times during the term of this Lease, at its sole expense, maintain in full force, for the mutual benefit of City and Waste Management, a policy or policies of comprehensive broad form general public liability insurance issued by one or more insurance carriers insuring against claims and liability for personal injury or death of persons and loss of or damage to property arising from the use, occupancy, disuse or condition of the Premises and improvements. Said liability insurance shall be in an amount of not less than $5,000,000 combined single limit, and $5,000,000 aggregate per location if Waste Management has multiple locations, for bodily and personal injury or death and property damage, which amount shall be adjusted upward (but not downward) periodically based on insurance industry-recommended changes in coverage. In addition, Waste Management shall pay for and shall maintain in full force and effect blanket contractual liability insurance to cover all of the indemnity obligations of Waste Managements under this Lease. 2. Workers' Compensation Insurance. Waste Management shall at all times maintain workers' compensation insurance in compliance with California and federal law covering all persons employed by Waste Management or Waste Management's contractors, subcontractors or assigns in the conduct of its operations on the Premises. 3. Automobile Liability Insurance. Comprehensive automobile liability insurance having a combined single limit of not less than $5,000,000 per occurrence and insuring Waste Management against liability forclaims arising out of ownership, maintenance, or use of any owned, hired, or non-owned automobiles. 4,_ Insurance on Improvements, Fixtures, Equipment and Personal Property. Waste Management shall, at Waste Management's cost and expense, obtain and maintain in full force and effect at all times a standard policy insuring the improvements, trade fixtures, equipment and other personal property located on the Premises and used by the Waste Management in connection with its business against "all risk" perils including fire, vandalism and malicious mischief (also known as "special causes of loss"), in an amount equal to the full replacement cost (without deduction for depreciation) of the Premises and such equipment and personal property. Such policy shall name City as a loss payee and include a standard form of lender's loss payable endorsement, issued to the holder or holders of a mortgage or deed of trust secured in whole or part by an interest in the legal parcel the subject of this Lease. Such policy shall not be subject to cancellation or change in coverage except upon at least thirty (30) days prior written notice to City. Such policy, a duly executed evidence of property insurance in the form of I.S.O. accord 27 or other insurance industry recognized certificate evidencing such policy, shall be deposited with City. 5. Waiver of Right of Recovery. Each party hereby waives its entire right of recovery against the other party, the other party's officers, directors, agents, representatives, employees, volunteers, successors and assigns with respect to any loss or damage, including consequential loss or damage, to the waiving party's property caused or occasioned by any peril or perils (including negligent acts) covered by any policy or policies of property insurance carried by the waiving party. 622009-1 25