Laserfiche WebLink
Exhibit B <br /> INSURANCE REQUIREMENTS <br /> Throughout the term of this Agreement, Owner shall obtain and maintain the <br /> following policies of insurance: <br /> (a) a commercial general liability policy in the amount of One Million Dollars <br /> ($1.000,000) each occurrence, Two Million Dollars ($2,000,000) annual aggregate, <br /> together with Three Million Dollars ($3,000,000) excess liability coverage, or such other <br /> policy limits as Agency may require in its reasonable discretion, including coverage for <br /> bodily injury. property damage, products, completed operations and contractual liability <br /> coverage. Such policy or policies shall be written on an occurrence basis and shall <br /> name the Indemnitees as additional insureds. <br /> (b) a comprehensive automobile liability coverage in the amount of One <br /> Million Dollars ($1,000,000), combined single limit including coverage for owned and <br /> non -owned vehicles and shall furnish or cause to be furnished to Agency evidence <br /> satisfactory to Agency that Owner and any contractor with whom Owner has contracted <br /> for the performance of work on the Property or otherwise pursuant to this Agreement <br /> carries workers' compensation insurance as required by law. Automobile liability <br /> policies shall name the Indemnitees as additional insureds. <br /> (c) Intentionally omitted. <br /> (d) Property insurance covering all risks of Toss (other than earthquake), <br /> including flood (if required) for 100% of the replacement value of the Project with <br /> deductible, if any, in an amount acceptable to Agency, naming Agency as Toss payee. <br /> (e) Companies writing the insurance required hereunder shall be licensed to <br /> do business in the State of California. Insurance shall be placed with insurers with a <br /> current A.M. Best's rating of no less than A: VII. The Commercial General Liability and <br /> comprehensive automobile policies required hereunder shall name the Indemnitees as <br /> additional insureds. Builder's Risk and property insurance shall name Agency and City <br /> as Toss payees as their interests may appear. <br /> (f) Owner shall furnish Agency with certificates of insurance in form <br /> acceptable to Agency evidencing the required insurance coverage and duly executed <br /> endorsements evidencing such additional insured status. The certificates shall contain <br /> a statement of obligation on the part of the carrier to notify City and Agency of any <br /> material adverse change, cancellation, termination or non - renewal of the coverage at <br /> least thirty (30) days in advance of the effective date of any such material adverse <br /> change, cancellation, termination or non - renewal. <br /> (g) If any insurance policy or coverage required hereunder is canceled or <br /> 1582117.2 <br />