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with the City's Risk Manager, all insurance required pursuant to this Section, and such <br />insurance shall have been approved by the City's Risk Manager as to form, amount and <br />carrier. Owner shall not allow any contractor or subcontractor to commence work on <br />any contract or subcontract relating to construction of the applicable Lot 1 or Lot 2 <br />Improvements until all insurance required for Owner and Owner's general contractor <br />shall have been so obtained and approved. <br />City's failure to obtain proof of insurance prior to commencement of work shall <br />not be deemed a waiver of the requirements of this Section 7: The insurance required <br />hereby shall be maintained in full force and effect until the applicable Lot 1 or Lot 2 <br />Improvements are completed and City has issued final acceptance thereof. All <br />requirements set forth herein shall appear either in the body of the insurance policies or <br />as endorsements and shall specifically bind the insurance carrier. <br />7.1 Minimum Scope of Insurance. Coverage shall be at least as broad as: <br />Insurance Services Office Form CG 0001 covering Commercial <br />General Liability on an "occurrence" basis. <br />2. Insurance Services Office form number CA 0001 covering Automobile <br />Liability, Code 1 (any auto). <br />3. Workers' Compensation insurance as required by the State of <br />California and Employers Liability Insurance. <br />7.2 Minimum Limits of Insurance. Owner shall maintain limits no less than: <br />1. General Liability (including operations, products and completed <br />operations): $1,000,000 combined single limit per occurrence for bodily <br />injury, personal injury and property damage. If commercial General <br />Liability Insurance or other form with a general aggregate limit is used, <br />either the general aggregate limit shall apply separately to the work <br />performed pursuant to this Agreement or the general aggregate limit shall <br />be twice the required occurrence limit. <br />2. Automobile Liability: $1,000,000 combined single limit per <br />accident for bodily injury and property damage. <br />3. Workers' Compensation and Employers Liability: Workers' <br />compensation limits as required by the Labor Code of the State of <br />California and Employers Liability limits of $1,000,000 per accident. <br />7.3 Deductibles and Self-Insurance Retentions. Any deductibles or self- <br />insured retentions must be declared to and approved by the City. At the option of <br />the City, either the insurer shall reduce or eliminate such deductibles or self- <br />1328680-7 9 <br />